VC Deals: Intel Backs Explainable AI Platform2

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Intel Capital (NASDAQ:INTC) led a $20M Series B for AI startup Kyndi, which says it’s building the first Explainable AI platform. UL Ventures and PivotNorth Capital were among the other backers. Intel Capital’s Sunil Sanghavi will join Kyndi’s board. Kyndi will use the new infusion to expand its engineering and sales teams to meet demand in the government, financial services, and life sciences industries. Kyndi’s solution differs from the traditional “black box” AI offerings by scoring the provenance and origin of each processed document to help customers find difficult-to-locate info from within collections of documents. The software doesn’t require large, labeled data sets for training and can work with robotic process automation tools to analyze text and automate workflows. "Solutions like Kyndi's, which remove some of the mystery of AI technology, will continue to gain importance, and we look forward to helping them accelerate AI adoption and address the need for explainability," says Intel Capital Senior Managing Director Nick Washburn. Other top deals of the week:

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