Grupo Werthein Pours $40 Million Into Cutting-Edge Generative AI Startup
By Rafael Escalera Montoto
– The Argentina-based investment firm Grupo Werthein introduced Illumia, a human-centric artificial intelligence service, with an initial funding of $40 million, as announced by the company on Wednesday.
WHY IT’S IMPORTANT
This investment marks progress in AI tech, specifically in improving customized engagements between companies and their clients.
The company plans to leverage a mix of artificial intelligence technologies along with the knowledge from current businesses to deliver services for sales, customer service, and various engagements.
KEY QUOTES
Daniel Figueirido, CEO of Illumia, stated, “Our objective is to leverage generative AI technology for digital assistants capable of conversing just like people do.”
“The secret to unlocking the kingdom through such an investment lies in figuring out how to integrate all these various platforms and technologies,” he said additionally.
BY THE NUMBERS
According to a recent study, 56% of Latin American participants expressed enthusiasm regarding the technology; however, half of these individuals cited worries about privacy and confidentiality.
WHAT’S NEXT
Illumia has offered services to companies controlled by Worthein in Latin America as well as some third-party clients, according to Figueiredo. He sees potential for Illumia to grow beyond its current presence in the area.
Grupo Wertheen is a Latin American holding firm whose investment range encompasses sectors such as technology, media, entertainment, and more. Its assets include DirectTV Latin America and Sky Brazil within its diversified portfolio.
(Reported by Rafael Escalera Montoto; Edited by Natalia Siniawski and Leslie Adler)