QuantCube Technology, an AI start-up and provider of macroeconomic and financial predictive analytics based on alternative data, announced today that it has completed a Series A funding round of $5 million from Moody’s Corporation and Five Capital, the investment fund sponsored by CDC International Capital (Caisse des Dépôts Group) and Kingdom Holding Company.
The financing will help QuantCube Technology expand its global reach and platform development.
Through Big Data analytics and its talented team of multilingual data scientists, QuantCube Technology can make highly accurate predictions of numerous future events, including the outcome of political elections, economic growth figures, price variation of commodities and fluctuation of stock markets.
Since its creation in 2013, the French start-up has been processing billions of massive, heterogeneous and unstructured data elements in real time from all over the world, from social networks, blogs, e-commerce websites, weather forecasts, satellite imagery and more to enhance its advanced analytics capabilities.
Through the development of predictive macroeconomic and financial indicators, QuantCube Technology provides strategic economic information in the short term for investment strategies, in the medium term for macroeconomic forecasts and in the long term for the predictions of geopolitical risks, to financial institutions, government agencies and large corporates.
Driven by strong growth, QuantCube Technology is now seeking to expand its presence and capabilities in key markets internationally. To support this development, the start-up has raised $5 million funding from Moody’s Corporation and Five Capital, the investment fund sponsored by CDC International Capital (Caisse des Dépôts Group) and Kingdom Holding Company.
Moody’s, an essential component of the global capital markets, provides credit ratings, research, tools and analysis that contribute to transparent and integrated financial markets. Moody’s has launched a series of initiatives across the company to harness innovative and emerging technologies. In 2017, Moody’s Investors Service (MIS), launched its Analytic and Technology Solutions group to expand MIS’s technology innovation activities, including advanced capabilities in machine learning and artificial intelligence.
“As the pace of technology innovation continues to accelerate, QuantCube has distinguished itself by offering powerful analytics using artificial intelligence and algorithmic processing to handle a wide variety of data, and we are pleased to be a part of their continued development,” said Rob Fauber, President of Moody's Investors Service.
Five Capital is the emerging markets investment fund sponsored by CDC International Capital of France and Kingdom Holding Company of Saudi Arabia. Five Capital aims at supporting French companies such as QuantCube Technology in their international development, with a particular focus on the Middle East. According to Hugo Qermane, Managing Director of Five Capital, “QuantCube’s proprietary AI enables the company to offer cutting-edge predictive analysis to a range of international businesses and government decision-makers. We are glad to support Thanh-Long and his impressive team in bringing Quantcube to key fast-growing markets, notably in the wider Middle East.
For Thanh-Long Huynh, Chief Executive Officer of QuantCube Technology, “our ambition is clear: we want to establish ourselves as a global leader in AI within the financial industry. Thanks to this funding campaign, we have all the resources and support we need from these high-quality investors to expand internationally. Our aim is to open subsidiaries in the United States and the Middle East by the end of 2018, and in Asia at the beginning of 2019.”
To support this international expansion, QuantCube Technology also plans to strengthen its operations, data scientists and technology teams.
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