Elemental Cognition (EC.ai) – a provider of breakthrough AI technology – recently announced that it has closed $60 million in connection with its Series B fundraising, including participation from Bridgewater Associates, Breyer Capital, AME Cloud Ventures, Staged Ventures, and other individuals.
This funding round will support the commercial growth of EC.ai’s patented platform, which allows enterprises to solve complex problems and accelerate time to value for deploying AI solutions.
These solutions are targeted for industries where grounded evidence and justified decision-making are paramount, including life sciences, financial services, travel and logistics, higher education, and government.
EC.ai combines large language models (LLMs) and natural language understanding (NLU) with advanced reasoning to ensure both fluency and correctness. And EC’s offerings include innovative solutions for two use case categories: research and discovery and expert assistance.
KEY QUOTES:
“Generative AI is a powerful technology with huge potential, but to reap its real value in the enterprise, it needs to be trustworthy. With our recent round of funding, Elemental Cognition will continue to capitalize on our efforts to bring powerful reasoning and transparency to the market. Our approach is different from others because we don’t rely on LLMs alone to generate reliable answers. We use GenAI for language fluency and we combine that with precise, logical reasoning and reliable problem-solving algorithms to generate and justify trustworthy solutions.”
— Founder and renowned computer scientist Dr. David Ferrucci – who is the renowned AI researcher and inventor of IBM’s breakthrough Watson technology
