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AI Firm Peltarion Secures $20M Round

February 14, 2019

Peltarion has secured a $20 million series A financing led by Euclidean Capital alongside existing investor FAM and EQT Ventures.

This latest round brings Peltarionís total funding to US$ 34 million to date, including previous investment from FAM, the holding company privately owned by the three largest Wallenberg foundations, and EQT Ventures.

Peltarionís mission is to make AI technology useable and affordable for governments, not-profits and businesses alike. It believes that making AI operational will help to solve world problems - from food distribution to disease diagnostics - more quickly and at scale. The Peltarion Operational AI platform makes building and deploying AI products and services easier, faster and more affordable. Its API approach creates an enterprise-ready solution, lowering the bar of hard-to-find AI skills required to build AI products and services, while reducing the need for expensive infrastructure.

ďAI is a technology that everyone should benefit from. Our mission is to make AI technology useable and affordable for all and this investment will help us to grow and scale in order to do more good in the world.Ē comments Luka Crnkovic-Friis, CEO and co-founder of Peltarion.

Peltarion has built strong momentum over the past twelve months, onboarding clients from a variety of different countries and focus areas - from the media industry through to finance and healthcare. Many of these solutions are already helping to make a difference in the world, particularly in relation to: cancer tumor segmentation, skin cancer detection, agriculture yield optimization, DNA prediction and energy.

In 2018, Peltarion founded the Swedish AI council, to establishing a continuous dialogue between Industry, Academia, Swedish Government and EU. The company has also built several technical and service partnership agreements with, including:

Sopra Steria

Bearingpoint

Silo.AI

Fourkind

Neiron

Avaus

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