US tech startup AI.Reverie secures $5.6 million financing from Vulcan Capital

US tech startup AI.Reverie secures $5.6 million financing from Vulcan Capital

Published: 22-04-2020 11:06:00 | By: Bob Koigi | hits: 2732 | Tags:

US-based computer startup AI.Reverie, has completed a $5.6 million equity round of financing led by private investment firm Vulcan Capital, Compound, In-Q-Tel, Resolute Ventures, SGInnovate, TechNexus and Triphammer Ventures.

The investment brings AI.Reverie’s financing since launch to over $10 million and will fuel revenue growth through talent and product expansion. YB Choi of Vulcan Capital joined AI.Reverie’s Board of Directors.

The funding builds on an exceptional year for AI.Reverie, which rapidly grew its client roster across government agencies and Fortune 500 clients. Their platform propelled projects in Defense, Retail, Smart Cities, Industrials and Agriculture including airport simulation, weapons detection, cashier-less shopping and delivery bots. Expert investors signaled confidence that AI.Reverie’s pioneering technology works, and the company will release several important benchmarking studies in the coming months that verify the impact of its synthetic data.

Daeil Kim, co-founder and CEO, AI.Reverie: “We have now seen our technology solve the real challenges of a broad client base. Our platform is fine-tuned and ready to grow.”

Synthetic data resolves two crucial roadblocks to growth and adoption of machine learning in computer vision: data diversity and labeling. Training algorithms to see requires a great variety of images and video footage in which subject matter is meticulously labeled — but traditional, manual labeling typically imposes significant cost and production time.

AI.Reverie provides another option: it leverages gaming technology and machine learning techniques to procedurally generate a diverse range of labeled images and videos at scale.

YB Choi, partner at Vulcan Capital and incoming board member of AI.Reverie: "Data is the driving force of value for computer vision, which is now mission critical to many major industries, and synthetic data holds the potential to transform the way computer vision algorithms are trained. We look for companies that can bring disruptive technologies to extremely large markets and have seen AI.Reverie create a more efficient and effective source of data. This company has captured the lead in a potentially explosive new field.”

www.aireverie.com

capital.vulcan.com