Stockholm, May 15, 2013 – The new issue in Gavagai AB – a Swedish Language Technology company and a spin-off from SICS (The Swedish Institute of Computer Science) – was over-subscribed with substantial investor interest.
“I have never seen such interest in a company at this stage”, says Dan Andersson, serial entrepreneur and chairman of Gavagai.
“It is an indication of the strength of our technology”, says Dr. Magnus Sahlgren, co-founder of Gavagai AB.
Gavagai is a research-based company with a number of commercial partner projects in the pilot stage across various sectors, such as finance, security, and consumer markets.
Gavagai develops software and services for automatic analysis of written text in any media, format, size, language, and quantity.
Gavagai AB (“Gavagai”) is a spin-off from the Swedish Institute of Computer Science (SICS). Gavagai has developed Ethersource, a technology based on decades of research effort in computational and computable semantics. At its core, Ethersource reads and “understands” vast amounts of streaming language data. Ethersource is designed to be a base technology for immediate deployment in any information system which relies on the analysis of large streams of text or other symbolic data in application areas such as search, big data analysis, enterprise data warehousing, associative advertising, social media analysis, deep packet inspection, or word-of-mouth marketing. Through its unique design, Ethersource has inherent advantages to traditional approaches, both with respect to statistical language models and traditional vector space models, and with respect to knowledge-based systems. Ethersource outperforms other technologies on important performance measures. Gavagai believes that Ethersource is uniquely positioned to meet the key industry challenges relating to Big Data:
• Understanding large – and growing – amounts of streaming data;
• Understanding noisy and unstructured language data;
• Understanding data in an increasing number of languages;
• Converting data into actionable intelligence – in real time
Gavagai recently made the 33-list (Ny Teknik and Affärsvärlden) of innovative companies (April 2013) and the 24-list (Veckans Affärer) of most entrepreneurial companies (April 2013). Gavagai made 2nd place on the 2012 Entrepreneur of the Year List by Internet World and was recently (29 Nov 2012) labeled “one of Sweden’s hottest IT-companies” by Reuters, a news agency. Media has covered Gavagai’s technology and accurate high-profile predictions in a number of articles: http://www.gavagai.se/inmedia.php