A.I. news analysis firm Almax Analytics testing with SUMO Capital

Rick Steves

A first-to-market service for news analysis by Almax Analytics, Artificial Intelligence for News Insights in Capital Markets, is soon to hit the financial industry in the form of technology provides traders an A.I. news filter and analyzer, helping market participants to envisage new trading opportunities based on news data flow. Jonas Dromberg, former Bloomberg Bureau […]

A.I. news analysis firm Almax Analytics testing with SUMO Capital

A first-to-market service for news analysis by Almax Analytics, Artificial Intelligence for News Insights in Capital Markets, is soon to hit the financial industry in the form of technology provides traders an A.I. news filter and analyzer, helping market participants to envisage new trading opportunities based on news data flow.

Jonas Dromberg, former Bloomberg Bureau Chief and investor behind the Seed Round of investment, said: “With soaring network and processor speeds, the processing power of the Internet is becoming powerful enough to help trading technology expand from a pure quant realm to a more qualitative space, such as news. Predicting stock movements automatically from news flow helps free investments from unproductive arbitrage trading to more common-good investments.”

 Almax Analytics, was first introduced in January 2016 as KPMG Luxembourg’s Innovative Companies at the European Alternative Investment Funds. Having successfully completed the Seed Round in London, with investors such as MCSI Inc., Aviva plc, the Fintech SEIS Fund and Jonas Dromberg, the firm is already planning the Series A financing round.

The Almax Analytics team, developing in Finland with company HQ in London, includes experts such as Chief Executive and Founder Balazs Klemm, Dr Peter Sarlin, Research Director and Founding Member, and Head of Strategy and Marketing Karen Bertoli.

balazs
Almax Analytics Founder Balazs Klemm; Source: LinkedIn

“We are pleased to have gathered this calibre of first round investors and thankful for all of the support from our partners in Luxembourg and the UK,“ said Balazs Klemm, Chief Executive and Founder of Almax Analytics. “In a short amount of time since first announcing we have listened and learned from Hedge Funds, Investment Banks, Exchanges and Vendors on the demand for this complex technology which powers high precision news analysis.“

Co-Founder Dr. Peter Sarlin said: “Almax Analytics technology responds to one of the greatest challenges facing capital market practitioners; feasibility for humans to read and absorb the sheer quantity of news available. For this reason, many important events and relationships are going undiscovered.”

The firm that is developing a real-time decision making technology for the capital markets is testing with SUMO Capital. Results are expected by July.

 

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