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European Investment Bank provides €7.5M to AI software innovator Cortical.io
Fresh funds cover R&D and support the company’s growth
EU bank financing is provided under the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe
The European Investment Bank (EIB) is providing €7.5 million to Cortical.io AG, an Austrian software company developing innovative artificial intelligence technology based on a Natural Language Understanding (NLU) approach that can interpret and process human language text. The software is capable of performing search and analysis based on meanings of words or sentences. Its current applications include smart search and classification of information in contracts and emails. Cortical.io’s technology can search, extract, annotate and analyse key information from unstructured text – even with special
InvestEU is Europe s key investment support programme for the new funding period, replacing a number of pre-existing financial instruments with one tool, and building on the experience.
EIB Provides $9.1 Million to Artificial Intelligence Software Innovator Cortical.io
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● Fresh funds cover R&D and support the company’s growth
● EU bank financing is provided under the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe
Daniel Schreiber and Francisco Webber, co-founders of Cortical.io
While there is widespread excitement about the promise of AI as a technology, our focus is on applying our innovative technology to deliver packaged solutions that solve the problems enterprises are facing today. SAN FRANCISCO (PRWEB) March 03, 2021 The European Investment Bank (EIB) is providing $9.1 million to Cortical.io AG, an Austrian software company with offices in San Francisco, developing innovative artificial intelligence technology based on a Natural Language Understanding (NLU) approach that can interpret and process human language text