Sigma News Ventures Group Ltd. acquires machine learning startup Metabolize to form Sigmai Limited

A new artificial intelligence firm, Sigmai Limited,has been formed following the acquisition of Sofia-based AI start-up Metabolize EOOD by Sigma News Ventures Group Ltd. The new venture specialises in extracting high-level insights from any kind of written content including documents, news media, customer engagement and earnings call transcripts, internal and external reports, patents, court decisions, legal contracts and scientific papers.

Sigma News Ventures Group previously used a combination of proprietary natural language processing technology, machine learning systems and human analysts in its Sofia, Bulgaria, development lab to analyse corporate news and connect business events to share price movements.

Metabolize, a wholly owned subsidiary of Benedictus EOOD, was set up in 2017 by Norwegian entrepreneur Christofer Solheim to offer outsourced AI and ML competency to companies interested in the potential but lacking the necessary resource.

Solheim will be Executive Chair of Sigmai while Jesse Moore, previously Chief Data Scientist of Metabolize, becomes Chief Executive Officer of the new venture. Mihail Minkovski joins from SNV to become the Chief Financial Officer. Tony Burgess-Webb, formerly Chief Marketing Officer with WPP group company communications firm Hill & Knowlton, will become a board member. Peder Andreas Nergaard becomes Head of Sales & Product Management.

CEO of Sigmai, Jesse Moore said:

“We offer clients competitive advantage by using the latest machine learning technology to leverage our heritage and skills in extracting ‘AI’, aka actionable insights, from written content of any kind.

“We think we can help organisations use our analysis of written data to understand their past better, respond more efficiently to current events – and in many cases predict their future.”

Sigmai already claims a foothold in the financial sector via its Newsful app; hosted on Thompson Reuters. Other targeted sectors include: healthcare, legal, insurance, communications and publishing.

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Editor’s notes

1 Sigmai Limited

Sigmai builds competitive advantage for clients by using a combination of the latest Artificial Intelligence and rule-based Natural Language Processing to extract unique insights from large volumes of written and spoken words. The combination of AI and NLP has created a new generation of powerful products and tools for analysing and classifying all types of text.This technology can be used to improve performance, speed up delivery and cut costs in business functions from recruitment to marketing, business development and customer service.

2 Newsful

Powered by Sigmai technology, Newsful is the world’s most accurate classification system for corporate news. It has digested every item of company news from more than 50,000 media sources, every day for the last decade. Each story is logged, time-stamped and classified by business events into a uniquely powerful system. https://newsful.io/product