Microsoft buys Canadian AI research firm Maluuba
Microsoft is acquiring Canada’s deep-learning and AI– technology startup Maluuba. The Waterloo based startup founded in 2011 by two University of Waterloo grads, focuses on teaching machines to read like a human brain.
Microsoft in a statement said ‘Microsoft representatives met with Maluuba employees earlier today in both Waterloo and Montreal. We are currently working on integration plans and expect most, if not all, employees will join Microsoft.’
Microsoft also announced that Yoshua Bengio, head of the University of Montreal’s Institute for Learning Algorithms – would become an adviser to the company’s Artificial Intelligence and Research Group.
Maluuba raised over $9 million in venture funding in January last year, but both companies are yet to disclose the sale price. The company also makes most of its research available to other AI developers. In December the company also joined hands with McGill University’s Reasoning and Learning Lab, a collaboration that received an NSERC Engage grant from the federal government.