Cathay innovation he said on Tuesday closed Fund III on $ 1 billion and will proceed to support AI startups in the field of digital health, fintech, consumer technology, mobility and energy. According to the company, the Fund based in Paris is the largest fund dedicated by AI based in the European Union.
The fund has invested in 14 startups in Europe, Asia and North America from the time of announcement in mid-2012-will proceed to support firms in the A, B series and late stage “the use of AI deeply adapted to specific sectors,” said the company. The fund runs and harvests in firms and normally writes checks from 5 to $ 100 million.
While the enterprises of $ 1 billion or more were once rare, they spread over the past decade, they show Crunchbase data.
Cathay Innovation based in San Francisco was launched in 2015 Cathay Capital. His investments Until now, this 12 months, it covers the A series of $ 41 million BioptimusFrench biotechnology startup developing a model of biomedical research foundations and participating in the round of $ 91.8 million to begin -up Flowdesk.
Other investments from the third fund include:
- Navalwhich AI offers for doctors;
- Startup ai discovery discovery Aqemia;
- Startup of property management powered by AI Range;
- Open infrastructure company of banking and payment Ping ++;
- Ghostwhich offers the B2B market for excess stocks;
- Reebelomarket of renovated technological devices;
- Entalpicwhich strives to find materials based on foundation models for innovation with low carbon content;
- Genai video creation platform promoting Mogic; AND
- Beatbot, which creates robotic cleansing systems.
“Regardless of the macroeconomic uncertainty, based on AI, industry transformation will last” Mother CaiThe founder and chairman of Cathay Capital and Cathay Innovation, said in the announcement about the end of Fund III. (*1*)