iConTek is a technology company that specializes in the field of Natural Language Processing (NLP). The company's main offerings include the development of virtual assistants, voice bots, and chatbots that enable businesses to interact with their customers in a natural and efficient manner. iConTek primarily serves sectors such as banking, insurance, travel, healthcare, and e-commerce. It is based in Toronto, Ontario.
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.
Companies developing artificial intelligence solutions, including cross-industry applications, industry-specific products, and AI infrastructure solutions.
Latest iConTek News
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.
iConTek Frequently Asked Questions (FAQ)
Where is iConTek's headquarters?
iConTek's headquarters is located at Toronto.
What is iConTek's latest funding round?
iConTek's latest funding round is Series A.
How much did iConTek raise?
iConTek raised a total of $6M.
Who are the investors of iConTek?
Investors of iConTek include Sumitomo Corporation Equity Asia, Vickers Venture Partners and QF Capital.