Artificial intelligence software developer Fragmentic has joined the venture capital fund and accelerator 500 Startups. For the next four months, Fragmentic will be part of the 500 Startups batch 18 program in San Francisco, California.
Along with joining 500 Startups, Fragmentic has announced its pre-seed round of USD 200,000 (EUR 180,000) startup investment from 500 Startups, Imprimatur Capital, Colette Ballou,and White-Summers Caffee& James.
Fragmentic was founded earlier this year by the data visualization tool Infogr.am co-founder Uldis Leiterts together with Kristaps Berzinskis and Valery Kochetkov.
Fragmentic streamlines creation of new applications and significantly reduces app maintenance and development costs as it can do the monthly amount of work done by three programmers, explain the authors.
500 Startups is a venture capital fund and startup accelerator that invests in companies’ early development stages and has been ranked among the best startup accelerators in the world by magazine Forbes.
500 Startups manages an investment portfolio of USD 200 million (EUR 180 million), and has invested in more than 1,300 technology startups all over the world. 500 Startups portfolio includes such companies as Twilio, Sendgrid and Wildfire.
Leiterts is a tech entrepreneur, founder of the Fragmentic startup, co-founder of the data visualization company Infogr.am, board member at the Pirate Summit conference and the founder of the Digital Freedom Festival. Leiterts set up his first company, Inforgr.am in 2012. At the moment it has 40 million active monthly users.