Vancouver-based Variational AI has raised US$5.5 million in an oversubscribed funding round and plans to double its nine-employee staff count, CEO Handol Kim told BIV this afternoon.
“We haven’t had the gas in the tank to fund business development and go to market,” Kim said.
“It’s now funding us, going and commercializing and getting more than just a few customers. It really supercharges our revenue and customer traction.”
Nimbus Synergies led the round, with participation from Merck Global Health Innovation Fund, Quimby Investments, Threshold Impact, and Defined Capital. Existing investors Flying Fish, A&E Investment, and Nepenthe Capital participated.
Kim said money will go to increase his company’s compute capacity, particularly
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