6 Million Euro Is Brought By XAIN For Its Blockchain-Based AI Network Solution
XAIN AG which is Oxford-founded and Berlin-based startup has brought 6 million euro in an initial financing cycle carried on by Earlybird. The firm, which won Porsche’s Blockchain Innovation Contest in 2017, is engaged in a blockchain-based minutes that would permit to safely monitor access to data, resources, and machines in IoT environments.
Along with Porsche, XAIN team developed an independant driving solution on the basis of widespread machine study which says that “the vehicle is trained to drive on the basis of local data, enriched by synthetic and general data, such as weather conditions.”
For seeing this system in operation, it needed a safe and reliable widespread network solution that would be mobile and quite energy-efficient to work within the device (in that case, a car). This is the way how XAIN, which stands for an “eXpandable AI Network,” was born. Started as an Oxford University side effect, it has displaced to Wildau, Germany.
With new capital, XAIN plans to employ 10 people until the end of 2018. It has also appointed Christian Nagel, managing partner at Earlybird, to its supervisory board.