Deci, a startup company with 50 employees who are developing a platform to build and optimize AI-powered systems, today announced that it closed a $25 million Series B financing round led by Insight Partners with participation from Square Peg, Emerge, Jibe Ventures, Fort Ross Ventures, and ICON that brings the company’s total raised to $55.1 million. The funds will be used to expand Deci’s go-to-market activities as well as support the company’s R&D efforts, according to co-founder and CEO Yonatan Geifman.
Companies face several hurdles in creating text-, audio- and image-analyzing AI models for deployment across their apps and services. Cost is an outsize one — training a single model on commercial hardware can cost tens of thousands of dollars, if not more. While newer generations of chips and custom-designed AI accelerators have helped to reduce the burden somewhat, creating a model from scratch is still no easy feat.
Geifman proposes neural architecture search (NAS) as a solution. NAS, a family of techniques on which Deci heavily relies, can help automatically discover low-cost, optimal models for a given problem. Deci isn’t unique in this — Google’s Vertex AI service leverages NAS to optimize the performance of models on specific, customer-specified tasks. But Geifman argues that Deci’s platform offers access to NAS capabilities at a lower cost.
In 2019, Geifman co-founded Deci alongside Ran El-Yaniv and entrepreneur Jonathan Elial. Geifman and El-Yaniv met at...
Read Full Story: https://techcrunch.com/2022/07/13/deci-lands-25m-for-tech-that-makes-ai-models-more-efficient/
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