Friday, August 03, 2018

The Space Industry, Artificial Intelligence Applications and Canadian Venture Capital

        By Henry Stewart

Want to find our where there smart venture money is pooling? Then check out the latest PwC MoneyTree report.

The complete Q2 2018 PwC Money Tree report, is available online from the PwC website by simply clicking on the graphic above. Graphic c/o PwC.

The quarterly report covers updates on the Canadian venture capital and high-growth startups ecosystem and is a staple of the financial community. It's compiled by Toronto ON based PriceWaterhouseCoopers (PwC) Canada, the Canadian subsidiary of a multinational professional services network headquartered in London, UK, and New York, NY based CB Insights.

The latest report, covering the second quarter of 2018, is all about funding analytical tools and artificial intelligence applications capable of dealing with very large data-sets.

As outlined in the July 26th, 2018 Betakit post, "Report: AI Drives VC Investments As Canada Hits $900 Million USD For Second Straight Quarter," which reports on the current Q2 2018 report, the AI sector continues to attract Canadian venture capital.

According to the article:
AI experienced a 104 percent funding increase in Q2 2018 compared to the last quarter, with $222Mln CDN ($169Mln US) invested across 13 deals. Total quarterly deals and investment reached an all-time high this quarter; the second highest quarter was Q2 2017, when $209Mln CDN ($159Mln US) was invested across 12 deals...
“Approximately half of the deal volume this quarter went to businesses that provide analytics tools to their customers,” said Dave Planques, national deals leader at PwC Canada. “These companies are supporting enterprises in making better data-driven decisions.”
The article goes on to state that the preponderance of AI deal has been a fixture of the Canadian investment opportunities over the last several quarters and shows no sign of slowing down.

Overall funding trends in Canada over the last six quarters. Graphic c/o PWC.

While AI is perceived of as being the "next generation of analytics for the investment community," its also worth noting the space focused applications of the new tools.

The analytical capabilities are of interest to astronomers and Earth imaging satellite experts because of the large volumes of data they are required to assess.

The European Space Agency (ESA) in particular has been organizing events to assess the new tools to see if they can handle "the massive spatio-temporal Earth and Space observation data collected by a variety of sensors - ranging from ground based to space-borne - and the synergetic use of data coming from other sources and communities," according to the website for the "2019 Conference on Big Data from Space (BiDS'19)," an ESA sponsored event which will be held in Munich Germany from February 19th - 21st, 2019.

Henry Stewart is the pseudonym of a Toronto based aerospace writer. 

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