Maana raises $28 million to accelerate AI-driven industrial digital transformation

12/19/2017

PALO ALTO, Calif. -- Maana, digital technology company, today announced it has raised $28 million in Series C funding. The round is led by China International Capital Corporation (CICC) and Eight Square Capital. Other new investors include Accenture Ventures and Sino Capital. All of Maana’s existing strategic investors, Intel Capital, GE Ventures, Chevron Technology Ventures, Saudi Aramco Energy Ventures and Shell Technology Ventures participated.

Investments in Maana, to-date, total $68 million. Maana has purposely chosen to take strategic investments to enable the company to develop a mature platform designed specifically to address the toughest industrial digitization challenges, according to the company.

“The latest investment will be used to scale our business globally and support our growing Fortune Global 500 customer base,” said Babur Ozden, CEO and co-founder, Maana This funding combined with the strategic alliance Maana has established with Accenture, demonstrates the demand for Maana’s cutting-edge AI-driven knowledge technology as a key enabler of digital transformation at the world’s largest industrial companies.”

“At CICC we pride ourselves in investing in disruptive technologies,” said Qing (Tracy) Gao, managing director and vice chairman of CICC Capital Overseas, and managing partner of Global Bridge Capital, a fund based in Silicon Valley sponsored by CICC and CM Capital. “From our decades of experience in China, digital transformation at China’s industrial enterprises will have a profound effect on improving corporate operations and enhancing the global economy. We believe the Maana Knowledge Platform has the potential to become the essential digital knowledge layer of the world’s industrial data and deliver significant business value to industrial companies.”

“Investments in digital technologies are helping enterprises, especially those in the oil and gas sector, generate hundreds of millions of dollars in operational efficiencies and new revenue sources,” said Paul Daugherty, Accenture’s chief technology & innovation officer. “Over the past year we have seen how Maana’s knowledge platform was being adopted to accelerate digital transformation at some of the world’s largest industrial companies. By investing and partnering with Maana, Accenture will develop hundreds of AI-based knowledge applications to help our industrial clients augment and improve their human decision making.”

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