From starting the manufacturing process to closing funding rounds, over fifty startups participated in the first global artificial intelligence accelerator
SAN FRANCISCO – August 29, 2017 – TechCode, a global network of startup incubators and entrepreneur ecosystems, today announces results from the first cohort of its Global AI+ Accelerator program. The startups, hailing from ten different countries and working in a variety of verticals to integrate artificial intelligence into their technology, were given hands-on support and counsel in financing, business, and operations strategies.
Example successes that the startups achieved through the TechCode Global AI+ Accelerator include:
· Cocoon Cam, the first no-wearable baby breathing monitor with HD video and streaming audio, closed a $4.1M Series A with fundraising, cap table and term sheet strategy counsel from TechCode.
· SmartyPans, a pan that computes nutrition and teaches users how to cook via an accompanying mobile app, is a 2017 CES Innovation Award Honoree and an IoT Innovation World Cup 2017 Finalist. TechCode continues to assist SmartyPans with their cooking demos and logistics. With help from TechCode, their CBS Innovation Nation demo helped SmartyPans achieve a significant lift of 12% in sales.
· Sutro is a monitoring, analytics, and actionable intelligence device for water. Their first device is for the pool and spa market, which monitors and delivers chemicals when the pool needs them. The AI and device will soon expand to ‘mission critical’ water markets such as agriculture and aquaculture. The CEO was named to the 2016 Forbes’ 30 Under 30 list and received introductions to investors and strategic assistance on expanding beyond pool water monitoring.
· Rever, a frontline innovation management application for large enterprises, closed a $1.2M pre-A round. TechCode also assisted with the distribution channel and customer discovery.
“Throughout the program, we leveraged our strong global connections to help promising AI startups from around the world get to the next level,” said Luke Tang, General Manager of the TechCode Global AI+ Accelerator Program. “As the use of artificial intelligence continues to rise across every industry – food, healthcare, wearables, education, and more – our accelerator becomes more important to help startups not just develop and advance their technology, but also make key connections to streamline their supply chain, find the right talent and gain access to financial capital.”
Other participating startups included Xalt, Intsite, NeuroApplied, VBrand, RayCatch, Sereneti Kitchen, Slick Video, Yono Labs, PerfectPi, DeepFarm.ai and VidiVR. With assistance from TechCode and its mentors, these startups were able to launch new applications and websites, negotiate with and close customers, begin manufacturing, launch global sales distribution channels, ship product, and meet with investors. Startups also leveraged TechCode’s strategic partnership with CFLD, a leader in investment and operation of new industrial Chinese cities, to establish relationships with distributors and manufacturers in China.
“The TechCode accelerator program was a valuable experience in learning for my tech startup, especially the connections to a global ecosystem of business professionals and leaders,” said Erica Lee, CEO and Founder of DeepFarm.ai. “We were able to clarify our company's needs better.”
TechCode recently launched its second AI+ Accelerator for robotics, transportation and artificial intelligence startups located in the San Francisco, Boston, Seattle, Los Angeles and Houston areas with rolling applications. To apply, visit the website or AngelList.