Tencent, Pearson Back UK AI Startup Prowler.io in $24 Million Funding Round
May 20 2019 - 4:57AM
Dow Jones News
By Adria Calatayud
U.K. artificial-intelligence startup Prowler.io has raised $24
million in a series B funding round which counted Tencent Holdings
Ltd. (0700.HK) and Pearson PLC (PSON.LN) among its backers.
The funding valued the Cambridge, England-based company at $100
million. Other investors involved in the round include Amadeus
Capital Partners, Atlantic Bridge, Cambridge Innovation Capital,
Mandatum Life, Passion Capital, RB Capital and SGInnovate,
Prowler.io said.
The company, which was founded in 2016 and develops AI
technology for decision-making, said the funding will be used to
support its product expansion and growth. Prowler.io is on track to
deploy its technology in financial services, logistics and
education during 2019, it said.
"Having initially focused on developing our AI platform, we are
excited to be expanding our product offering into new verticals,
underscoring the flexibility and innovative nature of our core
technology," Chief Executive Vishal Chatrat said.
Prowler.io's most recent financing event was a 10 million-pound
($12.7 million) series A that closed on Sept. 4, 2017, according to
Dow Jones VentureSource data.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
May 20, 2019 04:42 ET (08:42 GMT)
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