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Nervana Raises $600K For Artificial Intelligence Hardware

socalTECH

San Diego-based Nervana Systems , a startup developing hardware specifically aimed at artificial intelligence software, has raised $600,000 in a funding round. The company--led by Naveen Rao--says it is developing computer hardware specifically for "deep learning". Aditya Agrawal, Ruchi Sanghvi, and SV Angels. READ MORE>>.

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LA, and Southern California's Surge In Venture Capital Funds

socalTECH

Core Innovation Capital. Okapi Ventures. Fund size: $60M (Okapi Ventures III) Managing Directors: Marc Averitt, Sharon Stevenson, Jeff Bocan, John Waller Investment interests: Seed and early-stage companies in the technology and healthcare IT sectors and has also invested in medical device and medical diagnostic startups.

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London and SF have become Impact Tech hubs, with 280% increase in VC in 5 years

TechCrunch LA

New research has found that San Francisco and London have become two of the world’s leading hubs for VC investment into tech solutions that address one or more of the 17 UN’s Sustainable Development Goals (SDG), more commonly referred to as “Impact Tech” They are followed by Paris, Berlin, Stockholm, Shanghai and Beijing.

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BlockFraud Finds $5M For Anti-Fraud Software

socalTECH

Santa Monica-based BlockFraud , a developer of machine learning and artificial intelligence software used for detecting mobile fraud, has reportedly raised $5M in a Series A funding, the company disclosed on Wednesday. The funding was led by Palisades Venture Capital. READ MORE>>.

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Going long on LA, India, AI and tech infrastructure March Capital raises $300 million

TechCrunch LA

March Capital Partners , the Los Angeles-based venture capital firm, has raised $300 million for its latest fund. “We have two major areas and a couple of minor areas,” said Sumant Mandal, a managing director with the firm. “We like data-driven business and two-thirds of our portfolio are AI driven.

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Cylance Gets $20M For Security Tools

socalTECH

Irvine-based cybersecurity software developer Cylance announced today that it has raised $20M in a Series B funding, which came from Blackstone, Khosla Ventures, Fairhaven Capital and un-named private investors. Cylance says it is applying artificial intelligence, algorithmic science and machine learning to cyber security.

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Qulab Applies Artificial Intelligence To Drug Design

socalTECH

The startup--backed by Cota Capital, Civilization Ventures, Plug and Play, and 415--says that Quleap automated small molecule, synthesis planning, and a cloud engine for simulating biomolecules.