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AI Venture Fund The Hive Secures $26.5 Million

AI Venture Fund The Hive Secures $26.5 Million
Credit: hivedata.com

The Hive, a venture fund and co-creation studio that builds and fosters startups focused on AI-powered applications, closed its third fund—The Hive III—with $26.5 million in capital commitments. Investors include Verizon Ventures, Software AG, GE, Rockwell Automation, March Capital Partners and individual investors.

The Hive III fund is focused on early-stage companies creating value and driving disruption using AI in the enterprise and key industry segments. Since its inception in 2012, it has co-created and invested in 24 companies, with six of those companies having been acquired: Nurego, co-created with EMC & Paul Maritz by GE, Kosei by Pinterest, Perspica by Cisco, Jobr by Monster Worldwide, Deep Forest Media by Rakuten, and E8 Security by VMware.