Euclidean Capital ramps up investments in AI-based firms

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uclidean Capital, the family office of Renaissance Technologies founder Jim Simons, is reportedly ramping up its investments in machine learning (ML).

Since last year, the New York-based firm has backed at least six AI-based companies across health care, customer services and aviation segments, Bloomberg reported.

Last month, Euclidean joined the fundraising round of data-privacy firm Duality Technologies. It also participated in a financing round by aerial data management platform DroneBase, which leverage AI for its analytics.

Earlier this year, the firm increased its holdings in deep-learning platform Peltarion and ASAPP, which provides AI for call centres.

ML-based diagnostics firm Dascena and biotech startup Codagenix, which is developing a vaccine for Covid-19, among the other firms backed by Euclidean.

As of the end of this September, the firm held interests worth around $170m in over a dozen publicly traded companies. These included health-care firms Alector, PMV Pharmaceuticals, and RAPT Therapeutics.

A Euclidean representative didn’t respond to the new agency’s requests for comment.