South Korean AI optimization startup Nota raises $14.7m series B to expand its global business
Nota, an AI optimization platform startup, acquired series B funding amounting to $14.7 million that is announcing. The series B funding was finalized last month, a year after the series A funding of $6.7 million. Nota plans to expand its global business and enhance its AI optimization technology. The startup also intends to fortify its R&D team by recruiting more top-tier talents.
The series B funding round joined by Stonebridge Ventures, LB Investment, DS Asset, Intervest, and Company K Partners. Nota has raised a total of $23 million. Nota is a tech startup that focuses on optimizing AI models with its main platform solution called NetsPresso and develops diverse edge AI solutions including intelligent transportation system, facial recognition-based access control, and low-powered driver monitoring solution in a vehicle.
Nota's NetsPresso is its proprietary hardware-aware AutoML platform that automates AI model development process only with datasets. NetsPresso significantly reduces time and resources that are required to develop an AI model and optimize the model for a target hardware by automating the process. The platform solution has been validated by numerous enterprises and is in Beta test before launching.
In addition, Nota announces that it has released a beta version of NetsPresso's Compression Toolkit module separately to assist deep learning engineers to implement various AI model compression techniques to optimize AI models better and faster with its GUI. Nota's differentiated technology is also recognized as its solutions are selected as Nvidia's success case and Arm's AI case study. Based on its core technology, Nota provides NetsPresso and optimized AI solutions to enterprises in domestic and global B2B market.
An investor from Stonebridge Ventures said, "As the size of high-performance AI models such as GPT-3 is rapidly growing and most AI models are too big for edge devices to handle, the importance of AI model optimization is growing more than ever. We expect that Nota will be able to lead the global MLOps market not only with its optimization software, but also with its hardware-aware AutoML solution, the first of its kind in the industry."
DS Asset commented: "Nota has proven their business potential and ability to compete in the global market based on their partnership with global server and edge market leaders, Nvidia and Arm. We believe their solutions will reach higher levels of performance with the growing pool of R&D professionals as well."
Myungsu Chae, CEO, Nota: "The series B funding enables us to go head on with the enhancement of our optimized AI solutions. This will be a step-up opportunity for us to reach a more diverse range of industries with our technology which has already gained validation from top-tier enterprises."
Nota will exhibit at CES 2022 to highlight its AI optimization platform, NetsPresso and on-device ITS and DMS solutions.