Search Engine Google has made a rare investment in Japan after the company led a follow-on round for Artificial Intelligence and Machine Learning startup ABEJA. The deal amount is undisclosed, however, 6-year old AI and Machine Learning startup confirmed that it has now elevated USD53 million from investors to date.
According to the reports, ABEJA has hoisted USD45 million in disclosed amounts that leave around USD8 million unaccounted for, which wraps both the Google investment and a 2014 deal that was also undisclosed. In a statement, ABEJA stated that the company and Google will work together on Artificial Intelligence and Machine Learning solutions across an assortment of areas, including retail and manufacturing, running the application of AI solutions, in conjunction with further development in Japanese AI sector.
ABEJA’s core offering is a PaaS (Platform-as-a-Service) that utilizes Machine Learning to aid in excess of 150 companies develop business analysis and insight from their data piles. The company said that there is a whiz product for retail stores which whets in on customer and retail data that is utilized by some 100 corporate customers. Managing Director of Google Cloud Japan, Shinichi Abe noted that the company has strong technical capabilities and Machine Learning expertise, and is respected across the industry for its track record of partnership and the successful operation of its tech solutions. In addition, Abe said that this investment flags the way for a partnership with ABEJA in breakthrough solutions in the retail and manufacturing fields, along with other verticals.