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counter. AI, previously known as RealityEngines, has closed a Series B funding round totaling $ 22 million.. This brings the total funding to more than $ 40 million.
The tour was led by Cotoy, with DB Ventures and Index Partners participating in the tour as well.
The company focuses on machine learning models and helping companies to deploy and maintain them. This new round of financing actually accompanies another announcement, the revelation of Deconstructed, a new set of tools from the company.
The new feature aims to help companies deal with something ridiculously annoying (and expensive) for most data scientists – feature engineering. Basically, this is the process of taking the raw data and turning it into something that can actually be understood and used by the company.
This new toolkit can be used by companies that need help in specific areas, so even if the company has a system for training deep learning models, there may be other tools that could be helpful..
In a statement to TechCrunch, co-founder Bindu Reddy, a former AWS and Google exec, explained it’s a bit more, stating that “one of the biggest weaknesses [companies] faced was,” Look, I have data scientists and I have my models Designed by home. My data scientists have built it on laptops, but I don’t know how to get it into production. I don’t know how to maintain models and keep them in production. “I think pretty much every startup is now thinking about this problem.
The decision to deploy this type of feature was an easy one for the company, as is Abacus. Artificial intelligence already has the tools. This is due to its focus on creating and deploying machine learning models.
As for financing, TechCrunch indicates that it will be used to augment both the R&D team and the sales team. . There are also plans for more language support and machine vision use cases in early 2021.
Contributed to several blogs, focusing on technology, applications, tools, and games.
The company is currently partnering with Aetna, Cigna, United, Oxford and Oscar
The company has also opened three new locations in Toronto, with plans for a further 12 locations next year
The company launched this year and is already looking to expand into new locations
Artificial Intelligence, Project Tour, Machine Learning, Startup, Deep Learning
World News – AU – Abacus. AI shuts down in a round of B Series worth $ 22 million, making total funding over $ 40 million
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