The New York-based startup Cognaize has raised $18 million to develop its unstructured data processing platform for use in financial artificial intelligence (AI) applications. The company takes a hybrid approach, utilizing both deep learning technology that has been trained on financial models and human input to hone the final product. Cognaize will use the funds to increase staff size, launch new research and development efforts, and create additional products. Argonautic Ventures served as the round's lead investor, joined by Metaplanet and other backers. Although AI has had far-reaching effects in the banking industry, the majority of current efforts are focused on structured data. Cognaize's platform is designed to take advantage of the tidal wave of unstructured data that is waiting to be mined for useful insights. The company operates under the assumption that despite the vast amounts of data available to the financial sector today, only a small fraction of that data (the