Activeloop – a leading Database for AI company – announced it has raised $11 million in Series A funding from Streamlined Ventures, Y Combinator, Samsung Next, Alumni Ventures, and Dispersion Capital. This funding round brought Activeloop’s total funding to about $20 million.
The company’s Deep Lake platform seamlessly connects unstructured data such as audio, video, images, text, and embeddings to machine learning models, offering advanced storage and accurate retrieval for machine learning.
The company’s Deep Lake platform seamlessly connects unstructured data such as audio, video, images, text, and embeddings to machine learning models. This enables advanced storage and accurate retrieval for machine learning.
Activeloop’s enterprise-ready database is used by many large companies in regulated sectors like biopharma, MedTech, legal, and automotive. Enterprises like Bayer Radiology and Matterport, use Activeloop to train and fine-tune large language and deep learning models, while also utilizing its capabilities for storing and searching vast amounts of data. Activeloop’s offering provides multi-modal retrieval-augmented generation (RAG) with high accuracy and cost effectiveness.
The funding will enable the onboarding of further enterprise customers, enabling anyone to organize complex unstructured data and retrieve knowledge with AI. And the company will also scale its engineering team.
KEY QUOTES:
“For customers across industries, Activeloop feels like a magic box that helps teams organize their unstructured complex data and efficiently retrieve it for AI. With Deep Lake, enterprises can create AI applications that are more accurate, boost AI engineering teams’ productivity by up to 5x, and cost up to 75% less than market offerings.”
– Davit Buniatyan, CEO of Activeloop
“It’s next-level. We’ve enabled a new human-machine interface that is natural to use and yields high-accuracy results for end-users.”
– Steffen Vogler, Principal Imaging Technology Scientist, from Bayer Radiology
“Enterprises seek AI to unlock value from complex data, which is only possible with systems like Activeloop’s database for AI. Given their solid track record, we trust the team to execute their vision and are excited to invest again in this round.”
– Ullas Naik, General Partner at Streamlined Ventures
