Google in recent time invested in a lot of markets which the company thinks is going to change the future. And with the same aim, Google has introduced the Gradient Ventures which is a venture designed to invest in young startups working on artificial intelligence and invest in their projects. According to Google, it wants to support every small artificial intelligence research.
Google also said that they would provide the portfolio companies with capital, resources and dedicated help from experts and AI boot camps. Also to take a minority stake in all the invested startups.
Many members of the team are engineers who know about the journey of a small idea to become a product. Gradient Venture will target the portfolio companies and help them to overcome the engineering challenges which come across while creating products.
Gradient Ventures has four companies in the portfolio which were revealed at launch; developer community Algorithms, software company Cogniac, drone develop cape and Aurima. The managing director, Anna Patterson who is also the founder of Gradient Ventures, told CNBC that the plan is to invest around 10 to 15 deals in 2017. The plan is to put around $1 million to $8 million in each one.
Google already has other ventures like Gradient Ventures is launching another firm like it which is AI dedicated investment. Canadian AI research firm Element AI received a fund of $102 million last month. Microsoft also made some investments in various research programs in Canada this year.