Inovia raises a $16.6M investment round from Verdane Capital
Inovia, a Stockholm, Swedn-based company providing a software as a service solution via an enterprise AI platform, announced completing a SEK 150M ($16.6M) investment round.
The funding was provided by Verdane Capital from its newly launched fund Verdane Edda, and will be used to accelerate the development and commercialisation of AI products and solutions and position the company for expansion to other Nordic countries.
Inovia, founded in 2012 by CEO Andreas Rosenqvist, Håkan Schön and Marcus Ekendahl, manages and sells big data and artificial intelligence solutions offering corporations and governmental organisations flexible and efficient AI and big data solutions both on-premise and cloudbased.
The company has 50 employees and expects revenues of nearly SEK 90M ($10M) in 2018.