Alexa inventor seeks startup

The inventor of several key technologies used by Amazon.com’s Alexa service raised $20 million to fund a new startup in the UK.

William Tunstall-Pedoe said his Cambridge- and London-based company, Unlikely AI, needed the money to start hiring developers of a new type of artificial-intelligence software.

Amadeus Capital Partners, Octopus Ventures and Patrick Pichette, the former chief financial officer of Google, and current Twitter board member, are among the backers of the startup.

Amazon’s Echo devices incorporate technology Tunstall-Pedoe helped develop at Evi, a British startup the world’s biggest retailer acquired in 2012.

At the time, Evi’s voice-activated search app was among the strongest competitors to Apple’s infant Siri.

Oil surges amid decline in dollar

Oil extended gains after recovering from a weak start as declines in the U.S. dollar offset concerns that global demand is under pressure.

The U.S. oil benchmark rose more than 2% to trade near $89 a barrel after earlier sinking to $85.

Risk sentiment generally firmed across markets Monday with equity markets climbing in Europe and the American currency weakening sharply as traders bet inflation is near a peak. A weaker greenback tends to benefit assets sold in the currency.

China’s efforts to suppress COVID-19 by curbing activity has weighed on oil prices with their potential of slowing down global demand.

From wire reports Nonetheless, some analysts see a host of bullish factors that could elevate prices heading into the end of the year.