Dataloop, a Tel Aviv-based start-up that focuses on helping companies manage the whole data life process for their AI jobs, consisting of assisting them annotate their information sets, today announced that it has now raised an overall of $16 million. This includes a $5 seed round that was formerly unreported, as well as an $11 million Series A round that recently closed.
The Series A round was led by Amiti Ventures, with participation from F2 Equity Capital, crowdfunding platform OurCrowd, NextLeap Ventures and SeedIL Ventures.
“Many companies continue to battle with moving their AI and ML jobs into production as an outcome of information labeling restrictions and a lack of real-time validation that can just be accomplished with human input into the system,” said Dataloop CEO Eran Shlomo. “With this investment, we are dedicated, in addition to our partners, to overcoming these roadblocks and providing next generation data management tools that will transform the AI market and meet the rising demand for innovation in global markets.”
Image Credits: Dataloop For the a lot of part, Dataloop specializes in helping companies manage and annotate their visual data. It’s agnostic to the vertical its customers are in, however we’re speaking about anything from robotics and drones to retail and self-governing driving.
The platform itself centers around the “human beings in the loop” design that matches the automatic systems, with the capability for people to train and remedy the model as needed. It integrates the hosted annotation platform with a Python SDK and REST API for designers, along with a serverless Functions-as-a-Service environment that works on top of a Kubernetes cluster for automating dataflows.
Image Credits: Dataloop
The business was founded in 2017. It’ll utilize the brand-new financing to grow its presence in the U.S. and European markets, something that’s pretty standard for Israeli startups, and construct out its engineering group also.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.