MONETA invests in Binah.ai
Revolutionary AI platform is adopted by the world’s leading institutions
Tel Aviv, Israel, January 10th , 2018 /– News release by Moneta Seeds Ltd.
Moneta Seeds announced today the closing of its investment in Binah.ai, an Israeli startup, that has developed an advanced technology platform for big data analytics.
Binah.ai (www.binah.ai), enables enterprises and vendors to utilize artificial Intelligence technologies, machine learning combined with signal processing to solve (almost) any data science challenges faster, more accurately and at a fraction of the price.
The company’s platform combines machine learning with signal processing technologies. The platform is based on core analytic functions that were developed from the ground up (no open-source) by Binah.ai.
About the Market: The enterprise market is demonstrating a very strong demand for AI solutions and personnel. There is increasing desire from businesses across all sectors to plug AI technologies into their business processes, but adoption is being stunted due to a shortfall in data science talent. Today, less than 3,000 companies in the world are doing anything related to AI. That means less than one percent of all medium-to-large companies across all industries have started adopting AI. As a consequence, there are 1,850,000 open Data Scientist positions, and the demand is unanswered. Binah.ai’s platform tackles the most complex AI projects and manages to reduce the need for headcount dramatically.
As part of the investment, Moneta manager – Adoram Gaash, has joined the Board as an Observer.
About Moneta VC
Moneta is a VC management firm that manages 2 funds: an early stage fund – Moneta Seeds, and an expansion stage fund – Moneta Capital. Moneta focuses on the emerging Data Science space, and specialize in Banking, Financial Services & Insurance technology, also known as Fintech. Moneta’s added value is manifested by its eco system that is based on Strategic Partnerships with world leading Banks and Insurance firms who are co-investing with Moneta and support its portfolio.
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SOURCE – Moneta