On January 3, 2018, Rubikloud Technologies Inc. ("Rubikloud") announced that it has raised US$37 million in a Series B financing round led by Intel Capital with new investors iNovia Capital and OTEAF participating. Existing investors Horizons Ventures and Access Industries also participated in the round.
Rubikloud will use the latest funding to expand its offices into Europe and Asia to meet demand for retail artificial intelligence ("AI") solutions to the growing global market.
Rubikloud uses AI to deliver intelligent decision automation to enterprise retailers through its cloud-native machine learning platform.
Intel Capital invests in innovative startups targeting 5G connectivity, the data center, artificial intelligence, merged reality, autonomous driving and a wide range of other disruptive technologies.
Osler, Hoskin & Harcourt LLP represented Rubikloud with a team consisting of Chad Bayne, Jay Greenspoon, Arlene Mack, Arielle Kaplan and Kevin Feng (Corporate).