On December 15, 2020, DarwinAI announced a funding round led by Honeywell Ventures, including participation form ACVC Partners, REDDS Capital, existing investors and multiple angel investors. The financing round extends a previously announced seed round. The investment allows for deep collaboration between DarwinAI and Honeywell and will enable the use AI across multiple lines of business, including for predictive maintenance, anomaly detection and computer vision for defect discovery.
DarwinAI is a Waterloo based software firm focused on providing explainable AI. DarwinAI’s Generative Synthesis technology allows developers to understand, interpret and quantify how a deep neural network works.
Honeywell Ventures is the corporate venture arm of Honeywell, specializing in investments in early-stage and high growth companies that have emerging and disruptive technologies.
Osler, Hoskin & Harcourt LLP advised DarwinAI with a team consisting of Chad Bayne, Michael Grantmyre and Alana McElhinney (Emerging and High Growth Companies).