AI Data Generator Raises $50 Million
Datagen, a “data-as-code” provider for computer vision artificial intelligence (AI) has closed $50 million USD in Series B financing led by new investor Scale Venture Partners.
The latest round of funding brings Datagen’s total financing to over $70 million for the company that was founded in 2018. Led by Ofir Zuk (Chakon) and Gil Elbaz, the company generates simulated data (a form of synthetic data) to train computer vision systems. The additional funds are expected to help Datagen continue to bolster its position in the nascent computer vision space.
“As we enter a new, data-centric age of machine learning, a streamlined, operationalized data pipeline is poised to be the most lucrative piece of the machine learning puzzle”, said Andy Vitus, Partner at Scale Venture Partners. “This is why we are placing our bets on Datagen, which is creating a complete CV stack that will propel advancements in AI by simulating real world environments to rapidly train machine learning models at a fraction of the cost — this will fundamentally transform the way computer vision applications are developed and tested. The potential impact of what Datagen has to offer, across a broad range of applications, is staggering”.
Datagen provides a self-service platform that computer vision teams developing and testing AI products can use to obtain and use synthetic data. Computer vision engineers can then engage and adopt synthetic data by running Data Generation Units (DGUs) by the hour to produce the data their AI needs.
Datagen is defining a new data-as-code category that it believes will serve as the “next big frontier following the model-and-data-centric approaches” to computer vision AI development. The value of the technology is in removing the need to source and manually annotate training data, some of its most time-consuming and resource-intensive steps so that developers can get to market faster with applications in augmented reality, smart offices, automotive in-cabin monitoring, home security, and more.
“The need for robust, high-variance and high-performance training data will continue to grow exponentially as computer vision algorithms and their applications become more numerous and diverse”, said Ofir Zuk (Chakon). “Our mission is to enable every CV team with the best synthetic data solution to power the development of their AI applications. That’s why we are honoured to welcome Scale VP to the community of our marquee investors. With today’s new funding, we are poised to accelerate growth and take the market by storm”.
As part of the announcement, Datagen is launching a Visual Synthetic Data Forum, a new industry forum that will convene quarterly and focus on topics related to data for computer vision AI development. Under Datagen’s leadership, it will aim to create a networking group focused on the advancement of synthetic data development by bringing leaders from academia and the industry to help shape and accelerate future AI applications and use cases built on computer-generated synthetic data.
You can find more information about Datagen and its $50 million Series B financing on its website.
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