According to a press release, the software company KNIME is receiving a further investment of 30 million US dollars from its long-term investor Invus in New York. This brings its total funding for the Zurich-based company specializing in data science und artificial intelligence (AI) to 50 million US dollars. The new capital is expected to double the development of enterprise-level AI governance and ModelOps capabilities.
KNIME develops solutions to support companies and organizations with managing large amounts of data and minimizing risks via a regulatory framework (governance) for artificial intelligence and for action processes (ModelOps or model operations). Intuitive access to the low code offering enables companies to develop their own platforms for automated data processing without expensive IT experts.
Michael Berthold, Co-Founder and CEO of KNIME, commented: “With our open-source community, we are able to provide KNIME users intuitive access to a wealth of state-of-the-art techniques.” Invus’ Managing Director Mario Kaloustian added: “This model answers the key question for the C-suite of every company: How do we accelerate innovation with GenAI while managing associated risks?”
According to a press release, KNIME’s revenue has risen to 30 million euros since 2017 with increases of 30 to 40 percent per year. The company’s team of 250 employees serves almost 400 clients worldwide, including Audi, Novartis, Bayer, Sanofi, Genentech, and Mercedes-Benz. ce/gba
Related news
Meet with an expansion expert
Our services are free of charge and include:
- Introduction to key contacts in industry, academia, and government
- Advice on regulatory framework, taxes, labor, market, and setting up a company
- Custom-made fact-finding visits, including office and co-working space