Reported about 1 year ago
Italian startup iGenius plans to raise 650 million euros in new funding to advance its generative artificial intelligence technology for the financial and public sectors. Founded in 2016, iGenius aims to establish itself in the emerging European AI industry alongside companies like France's Mistral and Germany's DeepL. This funding round includes investments from Intesa Sanpaolo's Eurizon and Angel Capital Management, propelling iGenius towards unicorn status with a valuation above $1 billion. The company's CEO Uljan Sharka stated that this capital increase will accelerate iGenius' progress in AI solutions for regulated industries, following the recent launch of their Italian-focused open-source Large Language Model tool 'Italia' designed for precise language understanding.($1 = 0.9305 euros)
Source: YAHOO