Predict your next investment

iConTek company logo
SOFTWARE (NON-INTERNET/MOBILE) | Scientific, Engineering Software
icontek.com

See what CB Insights has to offer

Stage

Series A | Alive

Total Raised

$6M

Last Raised

$6M | 3 yrs ago

About iConTek

iConTek is a Natural Language Processing (NLP) and Machine Learning engine developer.

iConTek Headquarter Location

Toronto, Ontario,

Canada

Latest iConTek News

Vickers Venture, Sumitomo unit lead $6m round in AI-focused ICONTEK | #VentureCanvas

Aug 1, 2018

| #VentureCanvas Kristie Neo | DealStreetAsia – VC Singapore’s Vickers Venture Partners  and Sumitomo Corporation Equity Asia, an arm of Japan’s Sumitomo Group, have invested in the $6-million Series A round in ICONTEK, a Toronto-based startup focused on natural language processing and artificial intelligence, according to a press release. The deal marks Vickers Venture’s third investment in the artificial intelligence space. Vickers Venture Partners expects the global machine learning market to generate over $8 billion in revenue by 2020. Vickers Venture Partners announced in October 2017 that they have raised $230 million to invest in startups across the world, with a particular focus on deep tech across the globe. Vickers’ portfolio spans across deep tech, media, telecommunications and life sciences. In June, Vickers announced that it led a $4.3-million interim round in SiSaf, a UK-based biopharma company. According to Dr. Jeffrey Chi, founding member of Vickers Venture Partners, ICONTEK was chosen because of their capabilities in developing AI without relying solely on big data. ICONTEK’s products are focused on seamless human-computer interactions with the help of natural language processing and machine learning. Grant Yu, CEO and founder of ICONTEK, shared that their technology was inspired by children in China learning the English language. “Traditional AI is like a written study. And the robot is taught in a similar fashion to the way a child is taught English at school. The difference is that our system can communicate in English without going to school. It naturally builds a model of oral understanding and constantly optimises and improves. This is the basic concept of natural intelligence,” said Yu.

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Expert Collections containing iConTek

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

iConTek is included in 1 Expert Collection, including Artificial Intelligence.

A

Artificial Intelligence

7,340 items

This collection includes startups selling AI SaaS, using AI algorithms to develop their core products, and those developing hardware to support AI workloads.

iConTek Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
CBI Logo

iConTek Rank

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.