aiXplain – one of the industry’s first no-code/low-code integrated AI development platforms – announced that it has raised $8 million in seed funding led by Transform VC and Calibrate Ventures. And aiXplain’s no-code/low-code integrated development environment (IDE) enables users to develop, manage, benchmark, experiment, and one-click deploy AI assets.
The company’s customers create more advanced applications by accessing a large and growing number of AI assets in data, models, pipelines, and benchmarks. And through the aiXplain marketplace, users are able to access aiXplain’s own as well as third-party assets from OpenAI, Google, AWS, Azure, and dozens of other AI technology providers.
Gartner estimated that 85% of AI projects fail due to unclear objectives and obscure R&D project management processes. And 87% of R&D projects never get to the production phase while 70% of clients indicate minimal or even no impact from AI.
KEY QUOTES:
“Today, the hardest part of delivering business-altering AI is bringing everything together: data preparation, model training, benchmarking, and deployment all involve different skill sets, diverse tools, and multiple groups. This complexity creates a tremendous barrier to success. In short, AI projects are difficult and costly to set up and deliver. We have built aiXplain to address this huge problem.”
- Hassan Sawaf, CEO and founder of aiXplain
“In every industry, the race is on to deploy AI to improve competitiveness, yet many companies don’t have the technical teams and resources needed to develop, test, and deploy cutting-edge AI solutions. With aiXplain, even non-technical users can quickly create robust AI applications. Hassan, with over 25 years of experience building AI models at companies such as Amazon, Facebook, and eBay, has assembled an exceptional team of technologists and business strategists who clearly see the democratized future of AI.”
- Jason Schoettler, managing partner at Calibrate Ventures
“Thanks to our deep partnership with aiXplain, we continue to expand our leadership position in the field of advanced natural language processing. aiXplain’s enterprise-strength platform enables us to power faster and more profitable global expansions for companies such as Airbnb and Uber.”
- Marco Trombetti, founder and CEO at Translated, a leader in machine translation with over 200,000 customers worldwide
“Using the aiXplain toolkit, our team was able to rapidly develop a prototype of a multimodal agent, analogous to Microsoft’s CoPilot or OpenAI’s ChatGPT. This new agent will support our examiners in the complex process of claims handling.”
- Bruce Lucas, founder and CEO of Slide, one of the largest insur-techs in the US
“These numbers speak to the tremendous size of the problem in designing, building, and iterating on meaningful AI projects.”
- Raed A. Masri, founding partner of Transform VC
