Noble.AI Secures Second Seed Funding Round from Leading Chemical Industry Titan

Noble.AI, a cutting-edge AI firm based in San Francisco, is set to revolutionize decision-making in research and development (R&D) after securing a fresh influx of capital from Solvay Ventures, the venture capital branch of the prominent chemical giant, Solvay SA. While the specifics of the funding round remain under wraps, sources at TechCrunch suggest this is Noble.AI’s second seed funding round, bringing the total investments to approximately $8.6 million so far.

Interestingly, Solvay had already established itself as an early adopter of Noble.AI’s platform before making this substantial investment, with the announcement being jointly made at the Hello Tomorrow conference held in Paris this week.

Given that Solvay’s research segment produces substantial amounts of data from diverse origins, this investment aligns perfectly with their goals. Noble.AI’s innovative features – the “Universal Ingestion Engine” and the “Intelligent Recommendation Engine” – are designed to facilitate the development of high-quality data assets. Such assets can subsequently be leveraged to generate recommendations that enhance decision-making processes within large organizations.

Dr. Matthew C. Levy, the Founder and CEO of Noble.AI, expressed his excitement about the collaboration with Solvay, stating, “I am enthusiastic to see what unfolds in its next phase, tackling the most important and high-value problems in chemistry.”

Stéphane Roussel, the managing director of Solvay Ventures, echoed this sentiment, remarking that “Noble.AI has the potential to be a real game changer for Solvay by enabling us to harness data accumulated over our 150-year legacy with cutting-edge AI tools, providing a significant advantage to accelerate our innovation.”

Notably, Prime Movers previously spearheaded a seed funding round for Noble.AI in late 2018, which had gone unreported until now. With Solvay Ventures now at the forefront of this new seed round, the momentum continues.

This strategic investment comes at a time when corporate R&D investments are surging, having reached an unprecedented $782 billion in 2018 among the world’s top 1,000 companies. This figure marks a 14 percent increase compared to 2017, representing the highest level of R&D expenditure ever recorded. Even with these advancements, corporate R&D still trails behind that of startups, indicating a growing trend toward enhanced strategic investments in this realm.