Google launched as we speak a enterprise capital fund, named Gradient Ventures, that may concentrate on early-stage AI startups.
Gradient’s site says the brand new fund goals to “invest in and connect startups with Google’s resources, innovation, and technical leadership in AI.”
“Many members of our team are engineers, so we’re familiar with the journey from big idea to product launch,” Gradient managing companion Anna Patterson wrote in a blog post. “The goal is to help our portfolio companies overcome engineering challenges to create products that will apply artificial intelligence to today’s challenges and those we’ll face in the future.”
Gradient presently lists 4 firms in its portfolio, together with Algorithmia, a market for algorithms and features, and Cogniac, a collection of instruments used to create and handle visible fashions.
In Could, Axios reported that Google would arrange an AI-focused program. Google will take a minority stake within the startups it invests in, placing between $1 million and $eight million into every firm. Gradient plans investments in 10 to 15 offers this 12 months, in line with CNBC.