Nokia Chairman backs machine learning startup Aito.ai

Aito is a machine learning startup based in Helsinki developing “predictive database” technology. The company recently raised €1 million in pre-seed funding, including backing from Nokia Chairman Risto Siilasmaa through his investment company First Fellow Partners.

The round also saw backing from Hermitage and UMO Capital, with funding from Business Finland. Aito’s previous investors include Futurice and the company’s own founders Vesa-Pekka Grönfors, Antti Rauhala, Kai Inkinen.

Aito has created a predictive database for developers, hoping to replace current machine learning tools which only generate single-purpose models. Aito allows users to search existing information, make predictions and find hidden correlations. Pricing starts from €6 per day and there is even a free trial period.

Grönfors, one of Aito’s founders said, “The idea of an unconventional approach to AI and machine learning dates back for more than 10 years. Antti, co-founder and chief scientist of Aito, started working with the concept already at the end of his studies and continued through the following years as a lead data scientist at Futurice [the European consultancy company].”

“Aito.ai is a predictive database for developers who value quick time to market. It’s familiar as a database, yet provides the intelligence of machine learning… Predictions, recommendations, and explanations are provided in milliseconds over a beautiful API, using the entire Aito database as training data. Where traditional database gives the user, for example, five past purchases of an e-commerce customer, Aito can automatically predict the next likely purchases and explain what lead to such prediction.”

Aito is already being tested in the real wold and is currently being used in a range of settings from finding relevant movies based on similarity, to providing predictions on which customer complaints will escalate.

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