Coming off a $21 million round in August, Austin’s CognitiveScale completed the Series B round of funding at over $25 million with a recent investment by Microsoft Ventures.
August’s round of funding will be used to expand global sales and development of their portfolio offerings. This month’s funding will be used toward the development of new AI-powered-product experiences for consumers and businesses on Microsoft HoloLens, a self-contained holographic computer to interact with holograms, and Microsoft Azure, a collection of integrated cloud services including analytics, computing, database, web and more.
Specifically, CognitiveScale will use the financing to build out mixed reality (MR) cognitive commerce applications for retail shoppers, like a virtual closet or showroom based on consumer preference and need, as well as applications for workforce productivity and business processes through contextual, cognitive insights.
“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, in a statement. “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).”
The new MR experiences will merge into CogntiveScale commerce and workforce productivity products, while both companies will join efforts on go-to-market for sales into enterprise and business networks.
CognitiveScale, founded in 2013, created the machine intelligence platforms CognitiveScale ENGAGE and CognitiveScale AMPLIFY that provide businesses with insights regarding customer engagement and decision-making that deploy self-learning businesses processes. Headquartered in Austin, the company has launched their cognitive cloud solutions in industries like financial services, healthcare and commerce.
Image provided by CognitiveScale.