Element AI is an artificial Intelligence company making a business intelligence platform that is headquartered in Montreal, Quebec and was founded in 2016 by Jean-François Gagné. The company is offering machine learning and artificial intelligence services for companies involved in advisory and enablement, cybersecurity, financial services (insurance, banking, and capital markets), and supply chain (manufacturing, logistics, consumer packaged goods, and retail). Companies in partnership agreements with Element AI include: AWS, Intel, Microsoft, Nvidia, Kinova, Omni, Automat, and Takano Co., LTD..
On June 14, 2017 Element AI completed their series A funding round with $102 million in funding from Real Ventures, Development Bank of Canada (BDC), Fidelity Investments Canada, Hanwha Investment, Intel Capital, Microsoft Ventures, National Bank of Canada, NVIDIA, Tencent, and several sovereign wealth funds. The founder and CEO of Element AI , Jean-François Gagné, made the following comment after announcing the companies series A funding round:
Artificial Intelligence is a ‘must have’ capability for global companies. Without it, they are competitively impaired if not at grave risk of being obsoleted in place. Seasoned AI investors at DCVC understood this, and supported us to democratize the AI firepower reserved today for only the largest of tech corporations. Intel, Microsoft, and NVIDIA, as pioneers and champions of AI hardware and software, likewise understand that their businesses flourish as every company is empowered with world-class AI. This is why these leaders have backed us with the world’s largest Series A round ever for an artificial intelligence company. This historic round will help Element AI deliver profoundly powerful AI platforms for all, not just the few.
On September 13, 2019 Element AI completed their series B funding round with $151 million in funding from Gouvernement du Québec, Data Collective (DCVC), Hanwha Asset Management, BDC, Real Ventures, Caisse de dépôt et placement du Québec (CDPQ), McKinsey & Company, and existing investors. In an Element AI press release the company said it was going to use the series B funding to 'accelerate the deployment and commercialization of solutions that meet customer needs for the operationalization of AI'.