Funding flows to Zurich: Teralytics raises $17.5 million, AI tech startup Deepcode scores $4 million

robin@tech.eu

Two noteworthy funding announcements coming out of Zurich, Switzerland today – and both from spin-offs from the ETH:

1) Mobility intelligence startup Teralytics has secured $17.5 million in a funding round led by Robert Bosch Venture Capital together with Deutsche Bahn Digital Ventures, innogy Ventures, LBBW Venture Capital, Liil Ventures, Atomico and Lakestar.

The company basically provides analytics from telecom network data to help mobility providers, cities and transport services “understand, predict and improve people’s journeys”.

With the fresh cash, Teralytics says it plans to expand its reach further to cover over a billion of journeys and become a global marketplace for mobility insights.

2) DeepCode, which has developed a platform for AI-powered code reviews, has raised $4 million in seed funding led by Earlybird, with participation from 3VC and existing investor btov Partners.

DeepCode uses machine learning to process millions of commits in open source software projects and learns how to find coding issues. Because the platform determines the intent of the code, DeepCode claims it can identify a lot more critical bugs and vulnerabilities than other tools.

DeepCode says the investment will enable it to support additional integrations and programming languages (Java, JavaScript, and Python are currently supported), improve the scope of code recommendations, and grow the team internationally.

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