Allegro.AI completed $11 Million Raising for AI Platform
25 April, 2018
Allegro.AI has emerged from stealth mode. Its platform brings automation to the datasets production, optimize the Neural Network, and supplies continuous learning for the Edge Devices
Allegro.AI from Ramat Gan, Israel, has emerged from its stealth mode with the closure of its Series A fundraising round, led by MizMaa Ventures, with participation from Robert Bosch Venture Capital GmbH (RBVC), Samsung Catalyst Fund and Dynamic Loop Capital. This brings the total investment to $11 million. Founded in 2016, Allegro.AI offers end-to-end AI lifecycle management solution, with a focus on deep learning applied to computer vision.
Allegro’s solution aimed to solve a few major problems in the Deep Learning (DL) for Computer Vision (CV) industry: Building datasets for training is manual intensive ask, VC tasks on the edge demands intensive computing resources, and once a DL solution was employed – it stops learning. Allegro.AI platform employs several strategies to tackle these issues: It brings automation to the datasets production, optimize the Neural Network, and supplies continuous learning and model personalization for an unlimited number of devices.
The company says it’s platform simplifies the process of developing and managing artificial intelligence (AI)-powered solutions – such as autonomous vehicles, drones, security, logistics and others. The company said that leading global companies are already using its platform to bypass the manual and time-consuming exercise of building their own datasets and models needed to develop AI-powered solutions
Allegro.AI will use the funding for continued development of its deep learning computer vision platform and customer rollout. Nir Bar-Lev, Co-Founder and CEO at Allegro.AI, said the company’s platform “can underpin the entire AI product lifecycle. Our goal is to empower every company to leverage the power of AI, starting with computer vision.”