Microsoft to acquire Samsung Venture backed Maluuba

Microsoft Corporation (NASDAQ: MSFT) has agreed to acquire Maluuba, a Waterloo Ontario based artificial general intelligence company. Financial terms were not disclosed.

Maluuba was founded in 2011 by classmates CEO Sam Pasupalak and CTO Kaheer Suleman with the goal “to create a world where intelligent machines work hand-in-hand with humans to advance the collective intelligence of the human species.” In 2016, Maluuba opened a research lab in Montreal.

Maluuba has raised $12 million in funding, including a $9 million Series A round led by Samsung Venture. Other investors include Nautilius Venture Partners and Emerillon Capital.

Maluuba is part of Microsoft’s AI push in Canada. In December 2016, Microsoft invested undisclosed amount in Montreal based Element AI Inc., an AI lab funded by Real Ventures.

photo credit: Maluuba

Ted Liu

Ted Liu, M.Sc. (Mining), MBA (Finance), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.