Yewno Attracts New Strategic Investor, Adds $6.5 million to the Initial $10 million Round of Funding
16 November 2016 - 11:00PM
Business Wire
Provider of New Inference Engine for Knowledge
Discovery Will Use Proceeds to Further R&D and Expand into
Additional Vertical Markets and Geographies
Yewno, maker of a new inference engine that mimics the human
brain and provides an entirely new approach to knowledge discovery,
has attracted a new international strategic investor that brings
additional expertise in the publishing industry and an entré into
Asia.
The new investor, Desmond Shum of GO VR LLC, is leading a $6.5
million funding infusion into Yewno’s Series A round, which now
totals $16.5 million. Pacific Capital Group, the company’s prior
investor, is also participating in the new round. “We are delighted
to continue to support the growth of this project, the progress so
far and the ongoing innovation is incredibly exciting. The ability
to provide a panoramic view of knowledge is simply stunning,” said
Silvio Scaglia, founder of Pacific Capital. The new funds will be
used to further develop Yewno’s knowledge base and inference engine
for roll out into additional vertical markets and geographies from
early 2017.
“We are experiencing strong traction of the new Yewno for
Education inference engine among leading universities around the
world, and we’re preparing to expand into additional vertical
markets,” said Ruggero Gramatica, chief executive officer and
founder of Yewno. “Desmond Shum recognizes the potential of our
solution in changing the way people explore knowledge by extracting
insights and building inferences in multiple vertical markets,
including publishing. His experience, participation and investment
in our company will accelerate our plans tremendously.” Along with
being publisher of a leading socioeconomic magazine in China, Mr.
Shum is widely recognized as an accomplished investor in formative
stage technology companies.
“Today, people in every walk of life and every profession and
industry are hungry to know more and, at the same time, frustrated
with simple, fragmented, incomplete answers and insight from
traditional information services and search engines,” said Mr.
Shum, who, along with his role in GO VR LLC is President of
Aeropolis Group and Chairman of Ocean Pacific Investment
Management. “Yewno solves this frustration head on by providing a
new approach to knowledge discovery by mimicking the human
brain.”
Mr. Shum was among the first generation of venture capital
investors in China and invested in the first NASDAQ-listed
technology company from that country. In addition to his proven
investment track record, Mr. Shum is an honorary trustee of
Tsinghua University, a member of the Beijing Municipal Committee of
Chinese People’s Political Consultative Conference, a 2005 Henry
Crown Fellow of the Aspen Institute and a Member of Aspen Global
Leadership Network. He also is a dedicated philanthropist with
endowments in various educational institutes in the US and China,
including Harvard, Tsinghua and the China Europe International
Business School in Shanghai.
Yewno announced its Yewno for Education inference engine in June
with the participation of leading research universities including
Harvard, MIT, NYU, Stanford, Stonehill College, University of
California, Berkeley, the University of Michigan and the Bavarian
State Library. In addition to a substantial content base for
discovery from publishers and aggregators, each university can
contribute to Yewno’s massive knowledge base that now exceeds more
than 50 million vetted, quality items, some dating back nearly 200
years.
The company’s knowledge base is growing exponentially as more
content is ingested from additional publishers, aggregators and
universities globally. The result is a unique knowledge discovery
platform where concepts are searched and clustered visually to
resemble a human inferential cognitive process.
About Yewno
Founded in 2014, Yewno is helping people uncover the
undiscovered through its new inference engine, which introduces an
entirely new approach to knowledge discovery. Mimicking the human
brain, the Yewno inference engine incorporates machine learning,
cognitive science, neural networking, and computational linguistics
into a highly visual solution to enhance human understanding by
correlating concepts across vast volumes of text. The launch of its
first vertical offering, Yewno for Education, serves as a unique
service designed for scholars and students and is at use at leading
academic and research libraries around the world, including
Harvard, MIT and Stanford. Headquartered in Redwood City, CA, and
with offices in London, Yewno is backed by leading investors
including Pacific Capital and currently has numerous partnerships
across top research universities, publishers and content
aggregators worldwide.
Visit here for more information about Yewno.
Visit here for more information about Desmond Shum.
Visit here for more information about Pacific Capital.
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Allison+PartnersMary Rose Ramos, 1
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