Element AI scores Series B


Element AI, a developer of artificial intelligence-powered software solutions, has raised C$200 million (US$151.4 million) in Series B financing. The investors included Caisse de dépôt et placement du Québec, McKinsey & Company, QuantumBlack, Gouvernement du Québec, DCVC, Hanwha Asset Management, BDC Capital and Real Ventures. With this funding, Element AI has raised a total of C$340 million (US$257 million). Allen & Company LLC was financial adviser for the financing. Element AI has offices in Montreal, Toronto, London, Seoul and Singapore.

Source: Press Release