$1.6m in fresh funding round for Xaitment

$1.6m in fresh funding round for Xaitment

By Rob Crossley

August 31st 2010 at 4:32PM

AI middleware group says it will use the money to bolster sales and support

AI tools group Xaitment has struck $1.65 million in VC funds, the group has announced.

Investors in the second funding round were named as KfW Bankengruppe and Triangle Venture Capital Group – the latter having provided some $1.3 million in a previous investment round.

It was not disclosed what Xaitment offered in exchange – be it equity or royalties.

Xaitment – which has offices in six countries – said it will use this financing to grow its position in the global market by expanding sales and support teams.

“More and more game studios are coming to realise the enormous benefits of using AI middleware in their game development,” said Uli Fricke from investor group Triangle.

“Xaitment is in the perfect position to meet these customers’ AI needs with its cutting-edge technology and world-class support."