Bridge financing boosts AI game tools’ presence worldwide
FOR IMMEDIATE RELEASE
Saarbr?cken/Quierschied, Germany– August 31, 2010– xaitment GmbH / Inc., the leading artificial intelligence (AI) game tool provider for the video games and simulations industries, today announced the receipt of€2.4 million in financing, strengthening the company’s future expansion in the worldwide market. Recent financing was provided by lead investor Triangle Venture Capital Group, with a second round of financing that closed in July providing an additional€1.3 million from Triangle and the co-investor ERP Startfonds of KfW Bankengruppe.
xaitment will utilize this financing to expand and strengthen its position in the global market. The company currently has offices in six countries and will focus on building up the marketing, sales and support of its five AI game middleware tools in these regions, as well as further enhancing its tools with new features and functionality. xaitment’s AI middleware tools make it possible for game and simulation studios to quickly create powerful out-of-the-box AI for their projects. The company’s outstanding support also ensures the rapid development of complex AI solutions for developers and designers.
“More and more game studios are coming to realize the enormous benefits of using AI middleware in their game development. xaitment is in the perfect position to meet these customers’ AI needs with its cutting-edge technology and world-class support,” said Uli W. Fricke, Managing General Partner of Triangle Venture Capital Group.
“AI middleware is an exciting topic of discussion in game development circles and has the most potential for growth. xaitment’s AI solutions bring the time and cost saving percentages that game developers need in this extremely competitive field of gaming,” said Andreas Gerber, Group CEO of xaitment.“With these strong partners at hand, we have the power to speed up our sales and development, and to guarantee our first-class, 24 hour support worldwide. We are looking confidently into the future knowing the huge potential our tools bring to game studios around the world.”
For more information, contact:
Phone: +49 (0) 6897 / 600 80-22
Fax: +49 (0) 6897 / 600 80-20
xaitment GmbH/Inc. is the world leader in AI game tools for the games and simulations industries. Founded in Germany in 2004, xaitment offers AI middleware that goes beyond pathfinding. xaitment's AI game tools enable developers, through easy-to-use graphical user interfaces, to create automatic navigation mesh builds, movement behaviors, crowd simulations, hierarchical probabilistic finite state machines, world descriptions, autonomic behaviors, and experience-based and inference-based learning behaviors for computer generated characters. For more information, visit www.xaitment.com.
About Triangle Venture Capital Group
Triangle is an early stage venture capital investor with a focus on disruptive hardware and software applications for the IT, medical device and clean-tech industries originating from universities and research centers. The uninterrupted continuation of this strategy since 1997 makes Triangle one of the preferred investors in European research spin-off activities. For more information, visit www.triangle-venture.com.
About KfW Bankengruppe
KfW finances and supports, among other things, business start-ups, small andmedium-sized enterprises (SME) as well as investments in economic growth and employment projects in Germany. KfW’s ERP Startfonds offer equity financing for innovative, technology-based enterprises with excellent growth prospects. The fund finances research and product development as well as the launching of new products, procedures and services. KfW always cooperates with a lead investor based on market conditions. Since 2005 the Euro ERP Startfonds have allocated more than 300 Mio. Euro to emerging technology-based companies. For more information, visit www.kfw-mittelstandbank.de.