Israeli deep learning co Deci raises $25m

Israeli deep learning company Deci has announced the completion of a $25 million Series B finncing round led by Insight Partners, with participation from existing investors Square Peg, Emerge, Jibe Ventures, and Fort Ross Ventures, as well as new investor ICON. The investment comes just seven months after Deci secured $21 million in Series A funding, also led by Insight Partners, and brings Deci’s total funding to $55.1 million.

The funds will be used to expand Deci’s marketing activities, and speed up R&D projects.

Deci’s deep learning platform helps data scientists eliminate the AI efficiency gap by adopting a more productive development model. AI developers use the platform to leverage hardware-aware Neural Architecture Search (NAS) to quickly build highly optimized deep learning models that are designed to meet specific production goals.

Deci was founded by CEO Yonatan Geifman, chief scientists Prof. Ran El-Yaniv and COO Jonathan Eliel.

Geifman said, "The growing AI efficiency gap only further highlights the importance of ‘shifting left’ - accounting for production considerations early in the development lifecycle, which can then significantly reduce the time and cost spent on fixing potential obstacles when deploying models in production, Deci's deep learning development platform has a proven record of enabling companies of all sizes to do just that by providing them with the tools they need to successfully develop and deploy world-changing AI solutions - no matter the level of complexity or production environment. This funding is a vote of confidence in our work to make AI more accessible and scalable for all."

Deci recently announced the launch of version 2.0 of its platform, which helps enterprises build, optimize, and deploy state-of-the-art computer vision models on any hardware and environment, including cloud, edge and mobile, with accuracy and runtime performance.

Deci collaborates with hardware manufacturers, computer OEMs and other ML ecosystem leaders, and official partners include Intel, Amazon Web Services (AWS), Hewlett Packard Enterprise (HPE), and Nvidia.

Published by Globes, Israel business news - en.globes.co.il - on July 13, 2022.