Question Answering Engine Kngine Announces New Round Of Investment From Samsung Open Innovation Center And Vodafone Egypt Ventures
Kngine announced today it has received a new round of investment from Samsung Open Innovation Center, USA, and Vodafone Ventures Egypt. The investment round aims to help Kngine further revolutionize the question answering and search technology industry which coincides with their release of its third and latest version. Sawari Ventures, the Cairo-based venture capital firm, was the first entity to invest in Kngine on the belief that it would create a breakthrough in the question answering and search technology industry.
Traditionally, search engines identify keywords and rank documents based on relevance to that keyword. Kngine’s proprietary technology, however, understands words’ semantic and extracts factual information from the entire data on the web to build, update and add to its Knowledge Graph, which today consists of more than six billion facts about millions of concepts. Kngine then utilizes this Knowledge Graph to understand and answer user queries. Furthermore, Kngine’s algorithm is self-feeding whereby it improves itself over time adding to the depth and complexity of the Knowledge Graph created.
Kngine is the world’s first multi-language question answering engine. Currently, Kngine supports English, Arabic, German and Spanish with more languages to be added soon. Kngine has developed a mobile app that showcases its search technology, and is available on both the Apple App Store and Google Play Store.
“Our mission has always been to build intelligence from the vast amount of information available online, to be able to provide quick answers to all users’ queries.” stated Haytham ElFadeel, Kngine’s CEO. He added, “With this investment we released Kngine 3.0 which achieves 80% accuracy in question answering, compared to 71% in the previous version. In several benchmark tests conducted to measure Kngine’s performance versus other voice search applications, Kngine has outperformed the current market leaders by a factor of up to 3x. With the release of Kngine 3.0, we also expanded into providing enterprise solutions”
Question answering has quickly become a favorite for users around the world in recent years with voice-activated searches having a significant impact on the way web users find and interact with information and search engines. Question Answering is a natural evolution of the world’s growing passion for everything mobile. The growing industry trend for small touchscreens with even smaller buttons can make searching and going through links for a quick answer a challenge – especially on the go.
The joint investment in Kngine by Samsung and Vodafone signifies the rising value of Egyptian-made technology on an international scale