French machine learning startup Prevision.io has raised €1.5 million in a round led by French national railway service SNCF through its €30 million SNCF Digital Ventures fund.
The rail company’s fund is managed by VC firm Hi Inov. Bpifrance, the government-backed investment firm, and Net Venture also participated in the round.
Prevision.io develops SaaS-based and on-premise AI tools for automating certain machine learning processes for data scientists, such as interpreted large pools of data and generating predictive models.
“Funds will be used to accelerate our development and our commercial exposure,” said a spokesperson. It is currently launched with a select few customers and the company will now focus on large scale deployment. Sectors it serves include transportation, insurance, and energy.
The startup is based at the Station F startup campus in Paris.