Software/ platforms

VERSES names Alex Kipman as Strategic Advisor; closes US$2M investment

VERSES AI Inc. (CBOE:VERS) (OTCQB:VRSSF) (“VERSES” or the “Company”), a cognitive computing company developing next-generation intelligent software systems, announces that Alex Kipman, CEO and Founder of Analog AI has joined as a Strategic Advisor.  

Mr. Kipman spent over two decades at Microsoft, most recently in the role of Corporate Vice President/Technical Fellow, Mixed Reality and Artificial intelligence.  While in this role he created and built several versions of HoloLens, Windows Virtual Reality, Azure Mixed Reality Services, and Microsoft Mesh.  In doing so, Mr. Kipman helped shape the go-to-market strategy and curated an ecosystem of partners to manage the system from development, to manufacturing, to distribution.  Mr. Kipman specializes in AI, AR/VR and edge computing and is a TED Talk speaker.  

Additionally, Mr. Kipman was one of Time Magazine’s 100 most influential people in the world in 2011, he was named 2012’s Inventor of the Year by Intellectual Property Owners Education Foundation. In 2021 a paper he co-authored received the Longuet-Higgins Prize by the Pattern Analysis and Machine Intelligence (PAMI) Technical Committee at the Conference on Computer Vision and Pattern Recognition for fundamental contributions to computer vision. 

Currently, Mr. Kipman is the Founder and CEO of Analog, a new AI company focused on edge computing solutions that seamlessly connect people, places and things through the use of smart sensors and mixed reality devices. Across all sectors, Analog’s approach to AI hopes to ensure that technological advancements are not just about efficiency and convenience, but about enriching human experiences and fostering a more connected and mixed world.

“We are excited to engage Alex as an advisor and to leverage his relationships and years of experience,” said Gabriel René, founder and CEO of VERSES.  “Alex is a renowned strategic leader and a specialist when it comes to edge computing, spatial computing and machine learning who has partnered with nations and corporations to help artificial intelligence, edge computing and the internet of things (IoT) reach their full potential while working towards our shared vision of creating a better, smarter tomorrow.” 

“I have been impressed with the work from VERSES and I truly believe they are on the frontier of AI,” said Alex Kipman CEO and Founder of Analog AI.  “Their platform aims to aid in creating intelligence from real time sensor data, which I believe will be the next evolution in pursuit of a connected, smarter world.”

The Company previously announced on January 18, 2024, a partnership with Analog to transform Abu Dhabi’s urban landscape through smart city projects1. This advisory agreement includes smart city projects as well as leveraging strategic relationships across the region.

Separately, the Company also announces that VERSES Technologies, USA, Inc. (the “Borrower”), a wholly owned subsidiary of the Company, has accepted an interest free loan in the amount of US$2,000,000 from two arms-length investors for US$1,000,000 each. The loan matures on the earlier of (the “Maturity Date”): (i) March 10, 2025; and (ii) the date VERSES completes a bona fide transaction or series of transactions with the principal purpose of raising capital, pursuant to which VERSES issues and sells its securities to one or more bona fide third parties (the “Equity Financing”). On the Maturity Date, the Borrower may elect to repay loan by way of cash, or through the issuance of class A subordinate voting shares in the capital of the Company at a per share price equal to the price of the securities issued in the Equity Financing, subject to the approval of CBOE Canada Inc.

Explore AITechPark for the latest advancements in AI, IOT, Cybersecurity, AITech News, and insightful updates from industry experts!

Related posts

BD Acquires MedKeeper to Offer Cloud Connected Pharmacy Software

PR Newswire

Elliptic Labs Signs PoC Agreement with A PC OEM for All-in-One PC

Business Wire

HID Introduces Technology Partner Program

PR Newswire