Verdane has invested SEK150 million in Inovia, one of Sweden’s leading providers of big data and AI solutions.
Inovia has developed a strong set of AI tools and frameworks, including an AI based virtual assistants (AIVA) and the Voice to Text application for Swedish. With Verdane’s investment, Inovia plans to accelerate the development and commercialisation of AI products and solutions and position the company for expansion to other Nordic countries.
“We have experienced an increasing interest in our services, solutions and products as more and more companies realise the opportunities with AI. Whether it’s automating customer service, improving health care decisions or improving compliance requirements, AI can effectively make many businesses much more productive. With Verdane as a partner and by leveraging their experience from building fast-growing technology companies, we plan to accelerate our expansion,” says Andreas Rosenqvist, CEO and co-founder of Inovia.
The global AI market is growing by 50 per cent per annum and is expected to reach EUR1.6 billion in 2018. The technology is offering great opportunities for corporations and governmental organisations to improve customer interaction, make internal processes more efficient or enhance their products. Inovia offers an Enterprise AI platform, enabling companies to explore the power of AI in their own IT landscape.
”During our years of AI development, we have created a flexible AI framework that allows us to build new products rapidly and create solutions that are tailored to a company’s problems and opportunities. One example is our AI based virtual assistant that can easily be deployed in any industry or discipline,” says Marcus Ekendahl, COO and co-founder.
“By combining a customer’s industry experience with our software and AI knowledge, we see strong improvements in efficiency and productivity,” adds Håkan Schön, CTO and co-founder.
