Carao Ventures led a US$800k seed investment in Singularities, an enterprise AI platform for customer behavior insights. Singularities is based in California and with main operations in Costa Rica.
(Carao Ventures) With this investment, the Artificial Intelligence (A.I.) startup will now aim to accelerate the development of its automated reasoning technology with the goal of transforming industries by making the best use of big data. This technology helps companies solve complex business problems that they have not yet been able to digitize.
Singularities is a startup based in Costa Rica and Silicon Valley. The technology that its team has built provides innovative solutions for companies in diverse industries that want to find a way to leverage data sciences and A.I. in order to process massive quantities of information, generate quality insights and react accordingly, in real time. Also, with the release of its platform Aleph Lab – a data analysis tool – the company will be set to offer a powerful and innovative solution for business and operations analysts.
Dr. Carlos Araya, the company’s founder, states that “the relationship with Carao has helped Singularities hone its scientific and technical capabilities into the creation of Aleph, as well as its implementation with various strategic clients and the fine-tuning of its business model.” Dr. Araya is an experienced entrepreneur in the fields of A.I. and programming languages, having either founded or co-founded four technology-driven ventures and holding a Ph.D. in A.I. from the University of Kansas.
Carao Ventures led the round through its investor network which it successfully closed in July 2018. For Carao Ventures, this deal was the opportunity to cement the profound interest that the company and its investors have in the field of A.I. With this transaction, Carao will continue backing the company with the support necessary to turn it into a technology company that can offer cutting-edge business solutions and services to companies worldwide.
Carao Ventures is the leading venture capital firm in Central America. In addition to investing in startups, Carao also provides portfolio companies with the essential resources needed to add value through strategic, financial, and operational guidance in their early stages, as well as accelerate their business development and connect them with their first big commercial opportunities.