Rome, 1 March 2021 - CDP Venture Capital SGR has approved an investment of up to 3 million euro for the innovative SME “Altilia”, a deep-tech company currently developing Altilia Intelligent Automation™, an advanced Artificial-Intelligence platform designed to automate sophisticated corporate processes.
With CDP Venture Capital SGR entering the shareholding structure through the fund Italia Venture II – Fondo Imprese Sud, and Incubator and Accelerator “Entopan Innovation” acting as an Advisor, rapid up-scaling of research and greater market impact, with markedly more globalised services on offer, will be possible. The transaction involved an initial capital increase tranche of 2 million euro by the closing date and a second tranche of 1 million euro to be subscribed by the end of 2021.
The use of AI within companies remains low. At present, there are still very few platforms worldwide capable of mimicking the cognitive capacity of human beings to solve problems, make judgements, read and communicate. Altilia Intelligent Automation™ technology has established itself on the market as a ‘disruptive innovation’ because it enables people to transfer their knowledge to algorithms with ease. These algorithms are therefore capable of learning and carrying out complex tasks, which would generally require human input, independently. Altilia’s platform is able to help analysts and decision makers build, train and apply AI models tailored to their needs, without necessarily having specific technical skills in this area, in order to seamlessly manage automated workflows that perform individual tasks or cover entire processes. Fueled by its commitment to research and development, Altilia integrates artificial intelligence technologies with Robotic Process Automation (RPA) to automate tasks, including those that typically require human judgment and contextualisation.
"The purpose of the major transaction that has just been carried out is to maximise the benefits of the digital- and technological-transformation services offered by the innovative, trailblazing companies of Southern Italy, like Altilia, a leader in the Artificial Intelligence sector with high-profile corporate clients based in Italy and abroad. - says Francesca Ottier, Manager of the Fondo Italia Venture II – Fondo Imprese Sud fund for CDP Venture Capital SGR - The partnership between public bodies and the industrial sector is a key aspect in promoting innovation at a large scale, aimed at inspiring Italy’s technological “Re-birth”.”
“Artificial intelligence and the smart automation of corporate processes," stressed Massimo Ruffolo, Altilia Founder, are and will be increasingly important to businesses, people and society as a whole. With innovation at its core, Altilia is determined to become a leader in AI Engineering and Hyperautomation sectors that Gartner states will be among the technological trends that attract the most interest in years to come—in Italy and abroad. CDP’s capital investment in Altilia represents a huge opportunity for growth, which will enable us to attract the world’s best AI talents, in terms of both technical and commercial prowess. We will be able to accelerate the development of our technology and products, expand our presence on the Italian market and start operating in international markets”.
The algorithms designed by Altilia are able to ‘read’ large numbers of documents quickly to extract meaningful information, thus introducing robotic automation to analytical processes that were once only possible with the aid of so-called ‘human cognitive abilities’. Not only does this innovative technology result in reduced costs, it also enables companies to dedicate top-level resources to tasks that are less repetitive and have greater added value, such as data and document interpreting and consolidating relationships that, in market terms, may benefit from these analyses.
Founded in 2010 as a research-based spin-off of the National Research Council (CNR), Altilia was the first innovative SME in Calabria and now has a team of over 40 people committed to research and development activities aimed at creating new technologies and cloud-based platforms to automate corporate processes through the use of AI algorithms. Altilia targets medium-sized and large companies in every industrial area with Intelligent Automation, Intelligent Document Processing and Decision Intelligence solutions. Some of the company’s clients appear on the Fortune 500 list, operating in financial services and online retail.