David Ferrucci, former artificial intelligence (AI) researcher, IBM Watson’s development team, has secured an approximately $60 million funding for his Elemental Cognition AI startup, as stated by Cointelegraph.
According to Cointelegraph, the corporation has concluded $59.95 million worth equity sales on account of 17 investors. From what it’s understood, there are plans to achieve an additional $5.75 million of funding. Sources suggest that Elemental intends to create AI, backed by advanced reasoning abilities.
Based on Cointelegraph’s website, Elemental’s LinkedIn profile has mentioned that the company “provides a revolutionary Generative AI platform with superior natural language understanding that powers expert problem-solving intelligence and research & discovery applications.” Reportedly, Elemental Cognition’s leadership unit comprises former employees of IBM and Bridgewater, along with David Shepler, Eric Brown, Mike Barborak, among others.
Moreover, Cointelegraph noted that Ferrucci gave 18 years of his life to IBM, and also fulfilled the director of applied AI’s role at Bridgewater Associates.
(With insights from Cointelegraph)
