AI data management co Dataloop raises $11m

Startups Photo: Shutterstock

The Israeli company's advanced platform consistently feeds 'real time' data while simultaneously streamlining the workflow with automated annotation tools.

Israeli AI data management company Dataloop has announced the completion of a $11 million Series A financing round led by Amiti Ventures with participation from F2 Venture Capital, OurCrowd, NextLeap Ventures and SeedIL Ventures. This brings to $16 million the amount raised by Dataloop to date and will enable the company to increase hiring and expand its presence in the US and Europe.

The company was founded in 2017 by CEO Eran Shlomo, CPO Avi Yashar and CBO Nir Buschi. Dataloop's proprietary, customizable SaaS platform weaves together human and machine intelligence, not only for training and labeling data but also for powering enterprises successfully in production. The company's advanced platform consistently feeds 'real time' data while simultaneously streamlining the workflow with automated annotation tools.

Shlomo Said, "Many organizations continue to struggle with moving their AI and ML projects into production as a result of data labeling limitations and a lack of real time validation that can only be achieved with human input into the system. With this investment we are committed, along with our partners, to overcoming these roadblocks and providing next generation data management tools that will transform the AI industry and meet the rising demand for innovation in global markets."

Published by Globes, Israel business news - en.globes.co.il - on October 15, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Startups Photo: Shutterstock
Startups Photo: Shutterstock
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