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We acquired a second investor. AGICortex summary of the year

You are just reading an article in a series where Polish startups, technology companies and venture capital funds sum up 2021.

Funds for development

In the middle of the year we managed to finalize the acquisition of funds necessary for further development. Our company has very ambitious goals – we want to conquer the global market of artificial intelligence dedicated to the real world and drive robots, drones and other autonomous machines that will completely revolutionize the world in the next decade.

Such a high bar may deter many. After all, technological companies from Poland that not only have, but also realize global ambitions can be counted on the fingers of one hand. In addition, we face one of the biggest challenges in the world of technology today – solving the mystery of advanced intelligence.

Nevertheless, knowledge and experience of our team members, as well as the idea for the business convinced investors from SpeedUp Venture Capital Group and engaged technological experts, who positively evaluated the potential of our technology.

As a result, we had the opportunity to start the process of transformation of working prototypes into a fully functional product for external customers – the Machine Learning framework, from the beginning designed for local data processing on edge devices. Thanks to the toolkit for developers – other technology companies will be able to implement projects that until now were either unprofitable or even impossible to implement.

Customers and partners

How necessary this product is can be proved by the interest we meet almost every time we talk to manufacturers of machines, processors or software related to devices operating in physical reality, which for many reasons are not always connected to servers in the cloud.

At 2021, we’ve managed to get people and organizations from all over the world – from the US and Europe to Asia and Australia – interested in what we do. The topic of automated artificial intelligence, capable of learning with minimal or no human input – really opens a lot of doors.

And although we thought it was too early to take advantage of an invitation to appear on a program about futuristic technologies on American television (there is a chance for that in 2022!), we were as pleased with this proposal as we were with the invitation to talks from one of the leading technology Venture Capital funds from New York or contact with representatives of companies producing the most efficient and innovative processors for Machine Learning applications.

In 2021, we established our first business relationships, leading to the sale of licenses for our software. As we predicted, companies trying to apply traditional Machine Learning techniques face many obstacles related to the demand for computing power or large training datasets, as well as the unpredictability of the physical world. To which our energy-efficient technology, capable of self-learning in real-time based on continuously collected data, is the answer.

The topics of unsupervised learning and Automated Machine Learning (AutoML) in the field of audio-visual data processing continue to pose a challenge to researchers and experts.

Therefore, our strongly neuroscience-inspired innovative technology that replicates valuable attributes of the biological brain truly has the potential to significantly impact the world.

Plans for 2022

The last few months have not only attracted interest from potential customers and partners, but also from investors. This year, we plan to raise further funds for research and development from European Commission programs (EIC Accelerator) and for business development from funds raised from private investors and Venture Capital funds.

The first quarter of this year is also related to the optimization of the marketing communication strategy and sales processes. Using our own experience, as well as suggestions from advisors and specialists cooperating with us – this year we intend to present ourselves from the best side to potential customers from North America, Europe and Asia.

We also plan to expand our production team. Today, composed of experts in the fields of neurobiology, mathematics and technology – we want to enrich it with, among others, people who have gained experience in research institutions, dealing with the subject of life-long machine learning (continual learning) and image processing (Computer Vision).

The beginnings of our company date back several years ago, when we started exploring the elements of neuroscience that could be translated into a technological layer and conducted literally thousands of experiments to determine the right course of action.

Today, after all these experiences, we not only know where we are going, but we also feel that things are accelerating.

This year will be the first in which we will show the world how a truly advanced artificial intelligence can work. And we will be implementing the next stages of the plan to materialize truly intelligent machines, equal to humans.

Author: Maciej Wolski, CEO AGICortex

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