Cindicator opens seed round with $1 million funding target

Cindicator opens seed round with $1 million funding target

The company expects participants to include strategic partners from the finance world and business angels interested in AI and fintech.

FinanceFeeds has learnt that fintech startup Cindicator has launched a seed round, with a funding target of $1 million.

Today, FinanceFeeds spoke to Cindicator’s CTO Yuri Lobyntsev who has confirmed that the seed round has already started and that it will close on April 15, 2017.

“We are expecting participation of strategic partners from the finance world and business angels who are interested in AI + fintech”, Mr Lobyntsev explained.

Cindicator, as we have already reported, is a company engaged in the innovative tech field of hybrid intelligence. The company has created a technology that takes into account the strengths and weaknesses of both human and artificial intelligence. After thousands of predictions are generated by a large pool of dissimilar and decentralized contributors, these are processed by Cindicator’s AI, creating trading signals. Hedge funds and institutional investors integrate this technology into their trading platforms in order to improve their results.

Recently, Cindicator and Moscow Exchange, or Moskovskaya Birzha MMVB-RTS PAO (MCX:MOEX), completed a test that sought to explore whether the combination of the collective intelligence of traders and robotics would lead to positive trading results. The experiment lasted three weeks and resulted in a return on investment of 2.8% for the period.

Cindicator’s action plan for the second and third quarters of 2017 shows the company will continue the work on hybrid intelligence technologies, and will seek to develop new algorithms and strategies. The plan involves earning the first revenues for the company from B2B clients. The launch (and further monetization) of Cindicator for individual investors is also on the cards.

In an interview with FinanceFeeds in early February this year, Mr Lobyntsev noted with regards to Cindicator’s plans:

“We are currently growing Collective Intelligence Fund, now mental intelligence and attention are considered as currency that people are investing and from which they earn real financial dividends in the end of each month. Users get finance rewards for their mental predictions and train their skill to predict.

We are testing cryptocurrencies market and creation of new mental markets. Generally speaking we’re exploring the math of how expectations of Hybrid Intelligence System may transform into intentions and determine reality to make the life better for its contributors.”

#AI, #Artificial Intellegence, #Cindicator, #fintech, #Funding, #Yuri Lobyntsev

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