Vinod Khosla and former Nasdaq chairman Michael Brown have invested nearly $2 million of their own money into FatKat, a software company that picks stocks based on algorithms created by artificial intelligence expert Ray Kurzweil.
The infusion is part of a $2.4 million Series C round of financing, according to a regulatory filing. Other FatKat backers include Teradyne co-founder Alex d’Arbeloff, funds controlled by Revolution Health exec and nanotech expert and Zyvex CEO James Von Ehr. The funding amounts and the names of investors from prior rounds are undisclosed.
Kurzweil is a pioneer in the fields of optical character recognition, text-to-speech synthesis, speech recognition technology, and electronic keyboard instruments. He is the author of several books on health, artificial intelligence, transhumanism, technological singularity, and futurism. His innovations are applied in FatKat’s software, which will use quantitative analysis to pick stocks.