fbpx

Datagen raises $50 million Series B to empower computer vision teams

Datagen raised a $50 million Series B round to boost the growth of its synthetic data solution for computer vision (CV) teams, bringing its total funding to over $70 million, the Israel-born company announced today. The round was led by new investor Scale Venture Partners, with partner Andy Vitus joining Datagen’s board of directors.

With offices in Tel Aviv and New York, Datagen “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,” Vitus said. The Palo Alto-based VC predicts that “this will fundamentally transform the way computer vision applications are developed and tested.”

Investors that had backed Datagen’s $18.5 million Series A round 11 months ago participated in this new round. This includes VC firms TLV Partners and Spider Capital, as well as Series A leader Viola Ventures, this time also through its growth arm Viola Growth. High-profile individuals from the AI and data field doubled down too, such as computer scientists Michael J. Black and Trevor Darrell, Nvidia’s director of AI Gal Chechik and Kaggle’s CEO Anthony Goldbloom.

The list of investors could get longer, Datagen’s CEO Ofir Zuk (Chakon) told TechCrunch. Although the round closed a few weeks ago, the startup left “a small part in deferred closing” with a few names that remain to be confirmed.

One of Datagen’s main milestones since its Series A was building a self-serve platform that its target users demanded in their early feedback, Zuk said. This gives Datagen a more scalable way to help clients generate the visual data that they need to train their computer vision applications.

Datagen’s solution is used by computer vision teams and machine learning engineers inside a variety of organizations, including some Fortune 100 and “Big Tech” companies. It has a wide range of applications, but there are four that are accelerating faster than others, Zuk said: AR/VR/metaverse, in-cabin automotive and automotive in general, smart conferencing and home security.

In-cabin automotive is a good example to better understand what Datagen does. The term refers to what happens inside a car, such as whether or not the passenger is wearing a seatbelt. Passengers and cars come in many forms, which is where AI comes in handy. Based on some initial real-life 3D motion capture, Datagen lets its customers generate the much larger quantity of data that they need to, for instance, decide where exactly an airbag should be deployed.

Datagen’s focus is visual data, but it isn’t tied to a sector in particular. If use cases in retail and robotics take off, for example, it will only need to collect specific real-life data, such as motion capture from warehouses. The algorithms and technology on top of this are domain-agnostic, Zuk said. A twenty-plus-year-old enterprise-focused VC firm, Scale already invested in automotive simulation platform Cognata, and is bullish about simulated data. So is Zuk: “Synthetic data is taking over real data,” he summed up.

Datagen seems to be a fascinating startup with motivating advancement on software development platform. I’m sure this startup would continue to flourish in its journey ahead. My the very best to the entire group of Datagen. This will give them tremendous accomplishments in the future.

Shishir Gupta, Founder and CEO, StartupLanes

Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.

If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.

You can subscribe to our news posts by entering your email in the box on the right side of this page.

Check out our YouTube channel for insightful content from the Indian startup ecosystem.

Or join our Whatsapp group to interact with other founders: Yes, I want to join the Whatsapp group.

The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.

Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business.

Tags

top