Israeli deep learning co Allegro.ai raises $7m

Nir Bar-Lev Photo: Allegro.ai

Kenon sells remaining ZIM stake

The company's deep learning and computer vision platform is in the beta-site stage and Allegro.ai is already working with some large customers.

Israeli deep learning and computer vision company Allegro.ai has raised $7 million in a Series A financing round led by Mizmaa Ventures and with the participation of Robert Bosch Venture Capital, Samsung Catalyst Fund and Dynamic Loop Capital. The company has raised $11 million to date.

Allegro.ai will use the funds to accelerate artificial intelligence (AI) for computer vision-based technologies.

The company's deep learning and computer vision platform is in the beta-site stage and Allegro.ai is already working with some large customers. With 20 employees the Ramat Gan based company was founded in 2016 by CEO Nir Bar-Lev, CTO Moses Guttmann and VP R&D Gil Westrich.

Published by Globes [online], Israel business news - www.globes-online.com - on April 25, 2018