Microsoft Ventures invests in CognitiveScale to accelerate adoption of Industry Cognitive Clouds
Financing will drive the development of new mixed reality experiences enabled by cognitive computing
AUSTIN – Oct. 4, 2016 – CognitiveScale, a provider of industry-specific machine intelligence software, today announced a strategic investment from Microsoft Ventures to support the development of new AI powered product experiences on Microsoft HoloLens and Microsoft Azure for consumers and businesses. Microsoft joins previous investors Norwest, Intel and IBM. The combined Series B investment totals over $25m.
“We are entering a new era of immersive computing in which the world is our browser and we are the cursor,” said Akshay Sabhikhi, CEO of CognitiveScale. “Our goal is to embed cognitive systems of intelligence into a whole range of new personal computing applications and business processes, from customer engagement, to procurement and regulatory compliance, using hyper-personalized holographic projections and mixed reality (MR).”
Through the investment by Microsoft Ventures, CognitiveScale will explore MR applications for cognitive commerce, enabling retail shoppers to engage with a virtual closet or showroom tailored specifically to their needs and preferences, as well as transform workforce productivity and business processes through contextual, cognitive insights. By working together, both companies aim for customers around the world to power augmented MR experiences on HoloLens and take advantage of Azure.
These new mixed reality experiences will be integrated into CognitiveScale products focused on cognitive commerce and workforce productivity. CognitiveScale and Microsoft will also partner on go-to-market for sales into enterprise and business networks.
“CognitiveScale products can be deployed on hybrid cloud environments to meet the requirements of our customers, including the ability to bring their own data lake and allow our Cognitive Cloud technology to securely access sensitive data. We are seeing more requirements to use Microsoft Azure due to its scalability, rich set of tools, cost effectiveness, and flexibility for customers to control access to their sensitive data sources,” said Matt Sanchez, Founder and CTO of CognitiveScale.
“With our investment, we aim to propel the development of new mixed reality experiences enabled by cognitive computing – CognitiveScale’s products and team of experts are great partners to bring new offerings to market,” said Nagraj Kashyap, corporate vice president, Microsoft Ventures.