Saros raised $7.055 million for its West Hollywood-based private firm that specializes in artificial intelligence in the financial industry, according to a filing with federal securities regulators.
The company’s website says Saros works on the financial industry’s “toughest problems” with the world’s most advanced “artificial general intelligence” through its partnership with Glendale, Calif.-based Beyond Limits.
A Saros spokesman could not be reached for comment on the $7 million capital raise.
Saros and Beyond Limits have the exclusive commercial license and access to the advanced artificial general intelligence technologies developed by NASA, the U.S. Department of Defense, and the Jet Propulsion Laboratory and California Institute of Technology, or Caltech, both of which are based in Pasadena.
The technologies are being used to solve “systemic inefficiencies in the consumer credit market” by developing a proprietary platform that integrates key components of the consumer credit, debt, credit reporting and scoring industries.
“We transform these proven space and defense technologies to innovative, tailored solutions and beautifully executed products, addressing your financial firm's most complex problems,” Saros wrote on its website.
Finance reporter Pat Maio can be reached at firstname.lastname@example.org or (323) 556-8329.