Google to use NEW VC Firm for funding of AI Startup


Artificial Intelligence is known as the technology of future and now Google is launching Gradient Ventures, a new venture capital firm. For AI startups, this newly launched firm by Google will offer technical advice and financial support. The advisors will include Astro Teller (head of X labs), Ray Kurzweil and Matias Duarte (a design mastermind).
Anna Patterson is the founder and managing partner of Gradient Ventures who told that technologies in AI are helping from data technology to medical field. But still there is lot to come as potential of AI is more than it is explored so far. Gradient will have a small share in profit of the startups they fund.
Currently, 4 companies are working with Gradient. Cogniac is creating software to build convolutional neural networks while Algorithma is creating a marketplace for AI algorithms and models. Cape virtualizes drone hardware to fly drone remotely and Aurima is building an alternative sensing approach and also contributing towards AI models. Anna added that several members of their team are engineers and their aim is to create products with AI according to the requirement of today and tomorrow by overcoming engineering challenges.
The industry will expand after entry of more companies that will help to solve the current and future problems. Currently, AI is at its early stages and investments will help to get benefit in the future due to which Gradient will acquire any interesting AI startups prior to others.

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