Data-Centric AI Company Akridata Raises $15 Million

By Annie Baker ● Oct 26, 2021
  • Akridata — a data-centric AI company — announced it has raised $15 million in Series A funding. These are the details.

Akridata — a data-centric AI company — announced it has raised $15 million in Series A funding led by TeleSoft Partners, Accel, and Mobile Foundation Ventures (MFV) Partners.

Recently, Akridata also announced the world’s first Edge Data Platform for Data-Centric Artificial Intelligence (AI). And with the first AI infrastructure platform in the Data-Centric AI category, Akridata provides a decentralized structure and scalable process to deliver curated, consistent, and relevant AI data sets.

Akridata launched in 2018 to solve AI’s Exascale data problem, which is a requirement to move AI out of experimentation and into real-world production. And from automotive and transportation, to retail and healthcare, this need is a major obstacle that prevents AI-enabled products from making it to the marketplace.

The funding will be used to scale the organization with exceptional talent, especially in engineering and customer success roles, drive further product innovation, and advance Akridata’s go-to-market initiatives to meet the market demand for Data-Centric AI solutions.

KEY QUOTES:

“The diverse requirements of ADAS/AV (Advanced Driver Assisted Systems/Autonomous Vehicle) necessitate many elements including deep learning, cloud deployment and in-vehicle services, among others. What ties all these together is data and a massive data challenge. Akridata brings us a comprehensive and novel solution that drives efficiencies, lowers the cost, and accelerates our team’s work toward our objectives. We will gain immediate leverage by automating data pipelines from edge locations to the cloud, allowing our data science and product development teams to focus on what matters most: delivering best-in-class ADAS/AV solutions and providing mobility for all.”

— Kishore Jonnalagedda, Director of Engineering, Toyota Motor Company North America

“Real-world AI is all about data and solving AI’s data problem is what Akridata was formed to do. We are delighted by the level of interest from the investment community and look forward to scaling Akridata to help take AI out of experimentation and into the broad marketplace. The trust these prominent VC firms have put into Akridata is a testament to the quality of our engineering, the significance of the business need we are meeting, and the market-readiness of our solution — the Akridata Edge Data Platform.”

– Kumar Ganapathy, co-founder and CEO of Akridata

“Autonomy is the next phase of AI and one of the most significant endeavors in human history, and the data problem associated with it is not only a giant challenge, but a giant opportunity. Akridata’s solution for Data-Centric AI is revolutionary and exactly what’s needed to drive autonomy forward across a range of industries.”

– Arjun Gupta, Chief Believer, TeleSoft Partners 

“The challenges of large and scattered data sets can seriously put the brakes on the promise of AI. Akridata’s unique focus on addressing these issues will make them a significant player in the next chapter of AI for advanced use-cases.”

– Dinesh Katiyar, Partner at Accel

“At MFV Partners, we invest in deep tech startups transforming large industries, and once we met with Kumar and the Akridata team and learned first-hand about their approach to AI’s massive video and unstructured data challenge, we immediately saw significant cross-industry use cases for the Akridata platform.  From automotive and healthcare to discrete manufacturing and government, Akridata’s ground-breaking innovation has the power to accelerate and transform industries.”

– Karthee Madasamy, Founder and Managing Partner, MFV Partners