London-based Seldon, a data-centric Machine Learning (ML) operations platform for the deployment, management, monitoring, and explainability of ML models, announced on Thursday that it has raised $20M (approximately €18.84M) in a Series B round of funding.
The round was led by Portugal-based Bright Pixel (former Sonae IM). Existing investors AlbionVC, Cambridge Innovation Capital, and Amadeus Capital Partners also participated in the round.
Bright Pixel is a technology investment fund of the multinational group Sonae, focussing on backing cybersecurity, digital infrastructure, and retail technologies.
It has a portfolio of more than 50 companies, from early to growth stages.
Founded in 2014 by Alex Housley, Seldon aims to accelerate the adoption of Machine Learning to improve business performance and manage risk.
Businesses are making significant investments in AI, but many are having trouble scaling up their models for production because of various constraints in team workflows, increased regulation and compliance restraints, etc.
This is where Seldon steps in. The startup gives Data Scientists, ML Engineers, and other business partners the tools they need to accelerate ML usage and tackle these problems with “unprecedented efficiency”.
Seldon says the funds will be used to advance its suite of products’ data-centric AI strategy.
The startup will also invest in customer success as well as strengthen the global support function.
The startup claims that since launching its series A in November 2020, its open-source frameworks have grown by 400 percent Y-o-Y.
Read more on Tech Gist Africa:
UK-based digital therapy and coaching platform HelloSelf raises €18.69M
