Paralleldots Announces Funding Of $2 Million

 
 
Team ParallelDots
Team ParallelDots
 
Spread the Word
Listed Under

Tags:
Software
Computer Programming
Artificial Intelligence

Industry:
Software

Location:
Newark - Delaware - US

NEWARK, Del. - Oct. 10, 2017 - PRLog -- ParallelDots, Inc., an artificial intelligence company developing novel algorithms and high impact solutions for real world problems, announced it has raised additional funding of $1.4 Million, bringing its total funding to $2 Million.

"We have raised $1.4 Million in additional funding from Multipoint Capital to enable us to pursue our vision and opportunities" said Angam Parashar, CEO of ParallelDots, Inc. "This follows Multipoint's earlier investment of $600K in early 2016 and brings our total funding to $2 Million. The funds will be used to add to our technology team, support our expanding global footprint, and general operational expenses."

"We are pleased to extend our investment in ParallelDots, Inc." said Gayatri Sondhi, Managing Director of Multipoint Capital, LLC. "The company fits our interest in making selective early stage venture investments in significant emerging technologies. We have been impressed by ParallelDots technology, team, operational capability, and results orientation in the last eighteen months. We look forward to continuing to work with the Company."

About ParallelDots, Inc.

ParallelDots, Inc. (https://paralleldots.xyz)  is an artificial intelligence company developing novel algorithms and high impact products for real world problems. ParallelDots growing team of 35 includes 20 data scientists and engineers. ParallelDots was incubated at TLabs, India's leading technology venture accelerator.

"We are excited about our strong suite of proprietary AI technologies, novel products, and growing revenues" said Angam Parashar, CEO of ParallelDots, Inc. "We are serious about developing winning AI products. That is why we start with research and build our own algorithms and datasets. We have robust proprietary datasets and AI-enabled operating platforms. We are AI-first and vertical agnostic: AI is universal, it will impact everything. We look for high impact real-world problems. We drive a virtuous cycle of well-defined problems, well-selected algorithms, and well-developed solutions."

About Multipoint Capital, LLC

Multipoint Capital, LLC is a U.S. based investment firm. Multipoint Capital invests private capital globally, primarily in secondary markets. Multipoint Capital makes selective early stage venture investments in emerging technologies. Multipoint Capital and its predecessor entities have been in operation since 2000, founded by ex-partners of the Boston Consulting Group, a leading management consulting firm.

Contact
Angam Parashar (CEO)
contact@paralleldots.com
+91-1244284648
End
Source:
Email:***@paralleldots.com
Tags:Software, Computer Programming, Artificial Intelligence
Industry:Software
Location:Newark - Delaware - United States
Account Email Address Verified     Account Phone Number Verified     Disclaimer     Report Abuse
Page Updated Last on: Oct 10, 2017



Like PRLog?
9K2K1K
Click to Share