Nara Logics Brings Total Funding to $13M

CAMBRIDGE, Mass., Oct. 15 — Nara Logics, Inc., an artificial intelligence company focused on turning big data into smart data, announced today a $6 million Series A-2 financing round with participation from previous investors and new investors, including .406 Ventures. Larry Begley, co-founder and managing director of .406 Ventures and former CFO of The Boston Consulting Group and Razorfish, will join Nara’s board of directors. This funding brings the total amount raised to $13 million and allows the company to accelerate efforts to further develop its artificial intelligence platform-as-a-service, which provides recommendations and decision support across categories and industries.

“This funding was earned by the team with 2 years of great work, turning the scientific discoveries of how the brain works into a platform that delivers true business benefits,” said Jana Eggers, president of Nara Logics. “Our investors saw our progress and made the decision to increase their positions and recruit others to support our developing business.”

In addition to this funding, Nara added Dr. Mriganka Sur, the Newton Professor of Neuroscience and Director of the Simons Center for the Social Brain at the Massachusetts Institute of Technology, to its advisory board. Nara’s platform-as-a-service works on customers’ data to provide information and responses to that data the way the human brain does. Dr. Sur’s appointment underscores Nara’s commitment to bringing real intelligence to artificial intelligence using neuroscience principles.

“Having Mriganka, a world-class leader in neuroscience research, advising us ensures we stay on the leading edge of this rapidly developing field,” added Eggers. “It keeps us in the fast lane.”