Swiss start-up with Chinese founders raises $9.5 million
Stefan Kyora29.12.2015 17:37
Demiurge Technologies AG is a Switzerland-based artificial intelligence company. The start-up has raised $9.5 million funding in the last six month.
According to the website Demiurge develops the next generation of neural networks and neuromorphic chips from a rebuilt foundation of mathematics, physics and computer science. In a press release Demiurge announced that the start-up has raised $9.5 million funding 6 months after its launch in May 2015, including $1.8 million angel round from Lun Feng at Vantone Holdings among three angel investors; and $7.7 million A-1 round from Hongdao Capital.
Demiurge has an office at in the city of Zug. The R&D headquarter of Demiurge, which houses Demiurge’s core R&D team, is also located in the canton of Zug. The founders have selected Switzerland for several reasons:
- Switzerland with universities like ETHZ, EPFL, UZH and research centers like CERN has established a world-class talent pool in every relevant fields of artificial intelligence over the last two decades.
- Switzerland has practiced one of the most advanced and comprehensive protection of high-tech IPs in robotics, biotechnology and other AI-relevant fields.
- Switzerland’s open export policy has promoted the freedom for AI and robotic products and services to enter global markets.
- International Standards: Switzerland has been most resourceful for the creation and negotiation of international standards which are vital for the manufacturing and distribution of AI products and services.
The start-up was founded by Siyi Liu and Zhipan Ren. Both are using a pseudonym. Siyi Liu acts as CEO under the name Idonae Lovetrue, Zhipan Ren acts as CTO under the name Bragi Lovetrue. They are currently living in the canton of Zug. Bragi Lovetrue holds a Master of Science from the Carnegie Mellon University as well as a Bachelor's degree from New York University. Idonae Lovetrue holds a Master of Science (M.Sc.) in Innovation Management and Entrepreneurship from Brown University.