SOTAI – a company with a vision to make artificial intelligence transparent and accessible to all – recently announced the successful closure of a $2 million seed funding round. The funding round was led by Four Rivers, a venture capital firm renowned for its investments in cloud infrastructure and developer services.
SOTAI’s goal is to address a pressing issue in the field of artificial intelligence and machine learning: the lack of transparency and control, which often hinders effective communication and trust-building with non-technical stakeholders. And factors such as complex performance metrics, real-world applications, stakeholder expectations, regulatory requirements, and the imperative need for explainability have presented significant challenges in the industry.
The company’s innovative solution was designed to streamline the modeling process, resulting in models that are easy to train, constrain, and comprehend. And SOTAI also offers a complementary analysis and collaboration toolkit, making it effortless to share results and secure buy-in from stakeholders.
The company was co-founded by William Bakst and Linus Meyer-Teruel (Google AI) (Tensor Lattice Flow). And the funding will be used to hire highly skilled individuals and to build and expand valuable partnerships with design firms, all of which are crucial steps in advancing SOTAI’s mission. Along with the funding news, SOTAI also announced the appointment of Guy Fighel and Christian Schagen as advisors.
KEY QUOTES:
“We are thrilled to announce the successful completion of our seed funding round, which will accelerate our mission of democratizing artificial intelligence. Our team is dedicated to bridging the gap between technical research and practical implementation by providing a user-friendly solution that promotes transparency, accountability, and collaboration in AI development.”
— William Bakst, co-founder and CEO of SOTAI
“We are excited to partner with SOTAI in their journey to transform AI development. The need for transparent and comprehensible AI models is paramount in today’s landscape, and SOTAI’s innovative approach will undoubtedly make a significant impact.”
— Dan Scholnick, General Partner at Four Rivers
“SOTAI is ushering in a new era where end users and data scientists can have confidence in AI models that are both effective and transparent. In a competitive landscape, our technology distinguishes itself as an innovative solution that empowers data scientists, ensuring they can harness the power of artificial intelligence with increased transparency and trust.”
— Linus Meyer-Teruel, co-founder and CTO at SOTAI
