A Tale of Two Capital Raises

Toronto-based AI startup Deeplearni.ng, a two-year-old company that employs a team of 23 people, recently raised $7.3 million USD ($9M CDN). They are currently working in partnership with one of Canada’s biggest banks on fraud detection software. Meanwhile, an ICO called TensorBit just opened. They are a three-person team established mere weeks ago. TensorBit’s small team is promising to develop a new Proof-of-Work algorithm that will optimize tensor weights — a computationally expensive, yet critical operation for training deep-learning networks. Their site claims they have raised $6.2 million.