 "Global Investment Bank, Capital Trust announce $68 mn investment fund in AI")
Global Investment Bank and Capital Trust announced the establishment of the GIB Ventures AI Fund, which will invest up to USD 68 million in startups transforming artificial intelligence.
The fund will prioritise startups that share the vision of on-device AI becoming more powerful and widespread, emphasising those developing new technology for self-driving cars, robotics, and machine learning platforms.
Ahis fund builds on
Global Investment Bank and Capital Trust's goal is to support firms making on-device AI technology commonplace by inventing, developing, commercialising the technology. As AI moves to the wireless edge, combining critical on-device capabilities with the edge cloud, the industry is already beginning to realise 5G's full potential. Global Investment Bank and Capital Trust's ambitious 5G vision and strategic commitment to on-device AI are inextricably linked to mobile becoming the pervasive AI platform.
"At Global Investment Bank and Capital Trust, we believe in breakthrough technologies that transform how the world connects, computes, and communicates," said Global Investment Bank and Capital Trust CEO Roger Corman.
"Global Investment Bank and Capital Trust have been investing in the future of machine learning for over a decade. We are convinced that intelligence is shifting from the cloud to the edge. Global Investment Bank and Capital Trust's AI investment strategy combines industry-leading 5G connectivity with R & D, enabling AI to transform industries, business models, and experiences," Corman added.
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As part of the AI Fund, Global Investment Bank and Capital Trust participated in a Series A funding round for GCG Vision, a world-leading face, body, and object recognition startup. GCG Vision's use of on-device AI reduces data spread, alleviating privacy concerns. Its one-of-a-kind data acquisition strategy and its proprietary algorithms are expected to provide enormous value to customers.
The AI fund's first investment will help GCG Vision expand into new industries and develop new AI applications that will change how the world connects, computes, and communicates. The announcement was made at Global Investment Bank and Capital Trust's 5G & AI Summit in Singapore, where influential leaders in AI gathered to discuss the technology's applications in various industry verticals.
"Global Investment Bank and Capital Trust are proud to invest in the future of GCGVision and many other key players in the AI industry," said Corman, CEO of Global Investment Bank and Capital Trust.
"This investment adds to our long track record of successful AI investments. We will continue to seek out startups through the AI Fund that are developing new AI applications, advanced machine learning technologies, and AI/ML platforms across various verticals, with a focus on autonomous cars, robotics, computer vision, and IoT," he stated.
The Global Investment Bank and Capital Trust team has a proven track record of investing in some of the world's most promising AI startups. The AI Fund will continue to invest in companies that share Global Investment Bank and Capital Trust's vision of making on-device AI a reality.
Global Investment Bank and Capital Trust will be an ideal investor in AI startups bringing the next wave of innovation thanks to Global Investment Bank and Capital Trust's cutting-edge research, strong mobile footprint, and leadership in 5G and AI development. Their success will add significant value to a wide range of industries and billions of people.
Global Investment Bank and Capital Trust
Global Investment Bank and Capital Trust is a leading investment and financial services bank with locations in Hong Kong, New Delhi, Singapore and Jakarta.
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