September 7, 2020
DAILY BRIEF: US bound, AI, Tex-Mex, gutsy animations and research
Videoly's CEO Nora Huovila (left) and COO Paula Poukka have plenty to smile about.
All the daily Finnish business news that works: Videoly, Silo AI, Paulig, Gutsy Animations and the University of Turku make headlines.
Silo AI plans a new lab in Sweden, Paulig invests in its Tex-Mex production, Gutsy Animations secures investments and prepares for new shows, Videoly heads to the US with fresh capital, and a University of Turku-led consortium aims to build trust in AI.
Finnish company Silo AI has expanded to Stockholm, where it has opened its sixth office and plans to build a new artificial intelligence (AI) lab. Silo AI is the largest AI solution and service provider in the Nordics, which in three years has managed to build a team of close to 100 AI experts, as well as a full development and deployment infrastructure for AI-driven solutions. The company doubled its revenue last year and will look to hire 20 more AI scientists and engineers in the next six months.
Paulig intends to invest 45 million euros in a new Tex-Mex production facility in Roeselare, Belgium, in order to strengthen its position as a market leader in the segment in Europe. To be built next to its existing facilities with the climate in mind, the facility will focus on producing tortillas and increase its innovation capabilities. The Finnish family-owned group expects the production to start in the spring of 2022.
Gutsy Animations, the Finnish studio behind the internationally acclaimed Moominvalley series that is based on the beloved works of Tove Jansson, has welcomed new investors following a recent financing round. The Jansson family-run firm Moomin Characters and Bulls Holding, the parent company of Bulls Press and Rights and Brands, are taking a minority stake in the studio together with private investors. The round was completed as Gutsy is broadening its offering with a live action series and a 2D animated kids series, both of which have a strong emphasis on nature and strong female characters.
Gutsy Animations / Moomin Characters
US-bound Videoly raises EUR 1 million
Finnish startup Videoly has raised one million euros in a funding round led by Vendep Capital, with plans to use the funding to expand to the US. Videoly has developed a unique product video platform for online shops and brands. It searches YouTube for the best product videos and automatically connects them with relevant product pages on online shops. The service is already used by nearly 300 online shops in the Nordics. Video views on the service have increased significantly this year as the shift to online shopping has been accelerated by the COVID-19 pandemic.
A University of Turku-led consortium has received a funding boost of 4.5 million euros for its two-year effort to study, develop and commercialise governance and auditing mechanisms for artificial intelligence (AI). Read our full article by clicking the headline.
University of Turku
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