Verdane invests SEK 150 million in Inovia - the leading Swedish big data and AI solutions provider

“We have experienced an increasing interest in our services, solutions and products as more and more companies realise the opportunities with AI. Whether it’s automating customer service, improving health care decisions or improving compliance requirements, AI can effectively make many businesses much more productive. With Verdane as a partner and by leveraging their experience from building fast-growing technology companies, we plan to accelerate our expansion”, says Andreas Rosenqvist CEO and co-founder of Inovia.

The global AI market is growing by 50% yearly and is expected to reach $1.6 billion in 2018. The technology is offering great opportunities for corporations and governmental organisations to improve customer interaction, make internal processes more efficient or enhance their products. Inovia offers an Enterprise AI platform, enabling companies to explore the power of AI in their own IT landscape.

”During our years of AI development, we have created a flexible AI framework that allows us to build new products rapidly and create solutions that are tailored to a company’s problems and opportunities. One example is our AI based virtual assistant that can easily be deployed in any industry or discipline,” says Marcus Ekendahl, COO and co-founder. “By combining a customer’s industry experience with our software and AI knowledge, we see strong improvements in efficiency and productivity,” adds Håkan Schön, CTO and co-founder.

The investment in Inovia is Verdane Edda’s first. With SEK 3 billion in commitments from investors, the fund will help build fast-growing companies within software, consumer internet and more traditional sectors where digitalisation can be a key driver of success. Verdane Edda targets individual investments reaching up to SEK 500 million.

“We have been impressed by the products and solutions developed by Inovia and with the specific business value that they are delivering with AI to Swedish companies and governmental organisations. We believe AI will affect all industries and businesses and we are excited to start working with the highly competent and experienced Inovia team,” says Jakob Tolleryd, partner at Verdane.