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VERSES AI Inc (VRSSF) is a cognitive computing company focusing on biologically inspired distributed intelligence. Their flagship offering, Genius™, mimics natural systems and neuroscience to learn, adapt, and interact with the world. With key features like generalizability, predictive queries, and real-time adaptation, Genius™ transforms data into knowledge models for collaboration between humans, machines, and AI. Recent achievements include the launch of Genius™ Private Beta program, partnerships with industry leaders like NASA’s JPL and Volvo, and progress in developing the Spatial Web Protocol and Governance Standards. VERSES has a strong IP portfolio with 11 patent applications and 14 registered trademarks. The company is shifting focus to become a product-driven scaleup, led by Dr. Thiruvengada, the new Chief Product Officer. VERSES is hosting a webinar on June 20th to roll out beta access for developers to enhance their intelligent software systems.
VERSES AI Inc. promotes Hari Thiruvengada PhD to Chief Product Officer as they shift focus from a technology startup to a product-driven scaleup. Dr. Thiruvengada, with extensive experience in product management, will lead the launch of Genius™, VERSES' Intelligence as a Service platform. The Company aims to mature research into commercial software under his leadership.
VERSES AI Inc. has closed the second tranche of its private placement, raising $9.3M through the sale of special warrants. Each special warrant converts into a unit, consisting of shares and warrants. The net proceeds will be used for corporate purposes, product development, and loan repayment. The company also paid fees to finders and insiders participated in the placement. The securities were offered in both USD and CAD denominations.
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