Deci's total funding now stands at $30.1M. Here are the top-line bullets you need to know.
Deci, a deep learning and synthetic data platform, has raised $21M in a Series A. This round drew participation from Emerge, Fort Ross Ventures, and Insight Partners, among others.
How’s the company performing?
- Israel-based Deci provides synthetic datasets that enable enterprises to create, deploy, and optimize AI models.
- The company’s platform is powered by its proprietary AutoNAC (Automated Neural Architecture Construction) technology, which helps generate deep learning models.
- Intel Corp recently partnered with Deci to optimize deep learning inference on Intel Architecture (IA) CPUs.
- The company’s platform enables AI developers to shorten the development lifecycle and helps reduce cloud computing costs by up to 80%.
Why does the market matter?
- The global edge AI software market is projected to grow at a CAGR of 20.8% and reach a value of $1.84B by 2026, according to MarketsandMarkets.
- Enterprises are increasingly shifting their workloads to the cloud and using AI/ML across the development process, both of which are contributing to market growth.
- The rise of remote work, remote asset maintenance, and telehealth services amid the Covid-19 pandemic has given the market a boost as well.