Tencent backs Prowler for $100 Million
Prowler a British company based in Cambridge has now been valued at $100 Million after a round of funding hosted by Chinese Tech giant Tencent and Pearson Plc a British company focused in the Education market.
Prowler makes use of AI which they call Principled AI which is based on a mathematical and practical approach thus making autonomous, adaptive and data efficient decisions to help businesses decide about everything from rebalancing financial portfolios to managing supply chains and logistics. Prowler makes use of Probabilistic Model which can create model on an uncertain, dynamic world with limited data and Multiple agent systems that collaborate optimize decisions using game theory in a collaborative or competitive environment.
The Company was given $24 million by what they term Strategic investors such as Tencent and Pearson Plc. The AI company said it will use the money to launch products and move into new industry areas, including education which seems like the most beneficial way forward since one of their major backers is heavily invested in the education market.
Unlike several AI companies that utilize machine-learning based techniques that rely on large amounts of data, Prowler separates itself from the competition by making use of AI efficient and effective decisions which are governed by several mathematical branches which include probability theory which provides a very strong base to model and make predictions which are more data efficient and better configured to represent real world models. Reinforcement learning provides a foundation for computer based decision making based on Bayesian theory and Bellman optimality these domains of mathematics solve a broad range of problems such as Prowlers’s AI decision-making platform, which it calls VUKU, has been used by other Nordic asset managers to do risk modeling and portfolio optimization and also by Barcelona-based delivery startup Paack to plan optimal routes for its drivers.