Software provider Microsoft has agreed to acquire one of its portfolio companies, US-based machine learning technology developer Bonsai, for an undisclosed sum.
Bonsai has created a software platform that helps enterprise clients create smart industrial systems by automating the management of machine learning libraries and algorithms.
The company has raised $13.6m in series A funding, with the May 2017 second tranche being co-led by M12, the Microsoft subsidiary then known as Microsoft Ventures, and New Enterprise Associates, the venture capital firm that led the round’s $6m first tranche.
ABB Technology Ventures and Samsung Next, subsidiaries of power and automation company ABB and consumer electronics maker Samsung, also took part in the series A round, as did industrial technology and appliance manufacturer Siemens.