– ISRAEL, Tel Aviv – Dataloop, a leading platform for AI data management and annotation, today announced it has raised $16 million funding following the completion of an $11 million Series A round led by Amiti Ventures with participation from F2 Venture Capital, OurCrowd, NextLeap Ventures, and SeedIL Ventures.
“I am very excited to be joining Dataloop as an investor and board member,” said Modi Rosen, Managing Partner of Amiti VC. “Dataloop has developed the most advanced platform for AI labeling and unstructured data management in the AI era, and the efficiency of this platform will become a competitive advantage for its customers.”
The investment follows a previously undisclosed $5 million seed round and will enable the company to increase recruitment efforts and grow its presence in the US and European markets.
The company raised its Series A round amid the coronavirus outbreak, an unprecedent time during which the importance of accelerating the development of AI capabilities took center stage.
“Many organizations continue to struggle with moving their AI and ML projects into production as a result of data labeling limitations and a lack of real-time validation that can only be achieved with human input into the system,” said Eran Shlomo, CEO of Dataloop. “With this investment, we are committed, along with our partners, to overcoming these roadblocks and providing next-generation data management tools that will transform the AI industry and meet the rising demand for innovation in global markets.”
“We are thrilled to double-down on Dataloop as they power enterprises all over the world on mission-critical, machine learning applications,” said Barak Rabinowitz, F2 Venture Capital.
About Dataloop
Dataloop is the leading SaaS platform for AI data annotation and data management focusing on accelerating vision AI. Dataloop’s proprietary platform works to streamline the process of preparing unstructured data by weaving together both human and machine intelligence and to power enterprises successfully in production AI. Founded in 2017, Dataloop eliminates the data challenges companies face allowing them to focus resources on their core business and help make machine learning systems accessible, affordable, and scalable. Dataloop is based in Tel Aviv, Israel.
Founded in 2017, Dataloop has already established itself as a leader in the field of data annotation and labeling with a growing list of customers including Standard, Foresight Automotive, Descartes Labs, and Transenterix.
For more information: https://dataloop.ai/
About Amiti Ventures
Amiti is an Israeli-tech-focused venture capital firm that seeks early-stage companies with the potential to disrupt or create billion-dollar markets. Amiti invests in the best Israeli teams; empowering new and seasoned entrepreneurs to build and develop outstanding global companies. The Amiti team has decades of experience leading Operations, Sales & Marketing, and R&D organizations in Israeli Tech. Amiti has a proven ability to identify and provide hands-on Board level leadership in the most promising, up and coming Israeli Tech companies.
About F2 Ventures
F2 Venture Capital is a specialized, seed-stage venture capital fund backing Israeli deep technology companies at the nexus of Big Data, Artificial Intelligence, and Connectivity. As founder oriented, hands-on investors, F2 also operates The Junction, Israel’s leading pre-seed investment program in partnership with leading multinational corporations.
For more information: https://www.f2vc.com/
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