The London-based startup, ChAI uses artificial intelligence (AI) and machine learning to predict commodities prices has announced to have secured £1.3 million (€1.5 million) in seed financing. The round was led by prominent venture capital investors including Passion Capital, Dynamo Ventures, MMC Ventures along with prestigious angel investors. The Brit company will use the investment to expand its team and global go-to-market activities.
So, how does it work?
ChAI uses uniquely valuable data sets such as satellite imagery and maritime transport data in order to offer unprecedented visibility and confidence into price fluctuations and movements of the world’s key raw materials, such as oil, aluminum, copper and others.