According to official news, UAE artificial intelligence company G42 has made an investment in the tokenized data platform Inveniam, with the specific amount undisclosed, and has raised over $120 million to date. G42 has 25,000 employees spread across seven AI subsidiaries, with business interests in the energy sector, health, and data centers.
Inveniam officially announced in 2021 that it had secured $25 million in Series A funding led by fund management company Apex, with Cushman Wakefield as a co-lead. Inveniam's system uses DLT to provide data sources for pricing calculations, much of which may come from artificial intelligence, and data access is permissioned. It also employs privacy technology, allowing institutions to share data without exposing sensitive information. Inveniam utilizes technology from the tokenization startup Tokeny.
Inveniam CEO Patrick O’Meara stated: “We are collaboratively building a system that allows for the sharing, analysis, pricing, and trading of private market assets while ensuring that sensitive source business data remains protected and controlled by its owners.” #ETH