CB Insights has released their annual AI 100 list and three notable Canadian names have made the list.
Element AI, Kindred AI (formerly Kindred Systems), and SPORTLOGiQ have made CB Insights’ second-ever AI 100, highlighting Canada’s recent push and continued presence in the sector. The list puts a focus on companies around the world that have used AI to push boundaries over the last year.
SPORTLOGiQ is a platform that uses machine learning to track athletes and players in-game using standard broadcast feeds. The Montreal-based company can then transform raw data into actionable insights for sports teams or storytelling devices for broadcast partners. The company secured a $5 million Series A round this year.
“Our AI-powered sports analytics engine is able to extract meaningful insights from the data collected and it’s exciting to see the impact it’s having on teams, media, and fans alike,” said Craig Buntin, co-founder and CEO of SPORTLOGiQ. “It’s an honour to be recognized by CB Insights and it validates our efforts to solve the challenges with collecting sports data and bringing AI to the sports industry.”
Element AI is perhaps the most well-known Canadian company included in the list, making massive strides over the past year to put their name on the global AI map. Another company based in Montreal, Element AI is a platform that helps organizations embrace an AI-first mentality. Using a state-of-the-art lab, the company launches and incubates cutting-edge AI solutions, and earlier this year completed a $102 million funding round.
Kindred AI creates systems that enable robots to understand and participate in a modern world. Recently the company has partnered with major retailers like Gap to introduce their robots into warehouses and bring about increased efficiency and flexibility, even compared to traditional industrial robots. The company raised $35 million earlier this year.
“Industrial robots, despite their accuracy and precision in the controlled environments of modern manufacturing facilities, do not adapt well to less controlled environments where the items could be randomly placed or come in a nearly infinite variety of sizes, shapes and weights,“ said George Babu, co-founder of Kindred AI.
Companies were selected to the AI 100 based on their Mosaic scores as well as their answers to questions and interviews posed by industry experts. A Mosaic score is a total based on a specific algorithm created by CB Insights to understand the health of a private company.
In total, the 100 companies on the list have raised more than $6.6 billion USD over 99 deals in 2017, and 11 of the companies are worth more than $1 billion.
“Last year’s AI 100 enjoyed amazing success in the year since earning this recognition. This year’s list was culled from 1000 plus applications and looks even more impressive. These are companies using artificial intelligence in industries from drug discovery and cybersecurity to robotics and legal tech,” said CB Insights CEO Anand Sanwal. “I’m happy that CB Insights is able to shine a light on the founders and companies that will revolutionize these industries and look forward to seeing what they do in 2018 and beyond.”
The 2018 AI 100 list was unveiled live at the A-ha! Conference in San Francisco. Head here to see the full list.