Banking News

CIBC Funds Tech Company US$8 million

CIBC Funds Tech Company US$8 million

(24 September 2020 – United States) CIBC Innovation Banking have provided US$8 million worth of capital funding for the technology company Bidgely. The funding will be used to accelerate the technology company’s growth across Asia, Europe and North America.

Bidgely specialise in solutions based on Artificial Intelligence (AI) for businesses in the Utility and Energy sectors. These solutions are designed to help businesses understand the industries and markets they operate in better, which will help support further funding for Small and Medium Enterprises (SMEs).

“The investment from CIBC Innovation Banking is an important step that allows us to scale go-to-market operations globally while continuing to accelerate the development of our Utility AI platform” commented Bidgely CEO, Abhay Gupta. 

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