In the US, Mr Ferrari led the company’s investment in startups that focused on building artificial intelligence and machine learning technologies, and emerging platforms such as drones, space, robotics, augmented reality, and virtual reality. He also helped it invest in companies building enterprise software and infrastructure, and advanced analytics software.
“They were invited by the Australian government,” an industry source said of In-Q-Tel, adding they believed the CIA-backed fund had an estimated $US400 million ($573m) to invest globally. According to fund tracking site CrunchBase, In-Q-Tel has poured money into more than 178 companies.
A man cleans the floor at the CIA.Credit:AP
A spokesperson for Prime Minister Scott Morrison’s office confirmed a partnership with In-Q-Tel.
“Australian agencies work closely with international partners on a range of national security issues, including innovation and technology,” the government spokesperson said on Monday night.
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