Codebase Ventures Inc (CSE:CODE) (OTCMKTS:BKLLF) announced Wednesday that its subsidiary, Pressland, has signed a new partnership with iO Ventures LLC in its effort to verify trustworthy news before distribution.
The Brooklyn-based Pressland is building a data management platform that fights the spread of misinformation using artificial intelligence and natural language processing to monitor and analyze new sources.
READ: Codebase Ventures subsidiary Pressland forms commercial partnership with payment product company OutVoice
iO Ventures is developing a personal consumer device that provide customized news and wellness information. The company was founded earlier this year by award-winning journalist Daniel Sieberg, a veteran of Google who helped build the tech giant’s Google News Lab and Google for Media programs.
"iO is designing a product that will become part of our everyday lives, perhaps even taking over the role of smartphones," said Jeff Koyen, Codebase's Chief Strategy Officer in a statement. "Given this huge opportunity, Pressland is excited to become part of iO's trust ecosystem at this early stage."
Pressland is using its platform and technology to help combat fake media sources and build trust between news outlets and audiences. The company recently launched News-to-Table, a digital magazine focusing on issues of media trust and transparency.
Seasoned tech investors
Codebase Ventures is a team of technology experts who invest in early-stage opportunities and support its companies to take ideas to market.
Codebase’s shares closed at C$0.04 in Canada and US$0.03 in the US on Tuesday.
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