Friday, April 19, 2019

Imandra Sets Up Shop In Austin, Adds $5M

Imandra which develops artificial intelligence software and technology, has set up shop in Austin, and raised $5M in funding, the company said on Thursday. the funding came from AlbionVC, IQ Capital, and LiveOak Venture Partners. According to the company, the new funding will go to support the hiring of additional workers in Austin, London, and Scotland. Imandra opened up its offices in Austin earlier this year. Imandra says it has developed a "cloud-native" automated reasoning engine which helps ensure AI algorithms are "safe, explainable, and fair." The company's CEO is Denis Ignatovich.