AI Firm Peltarion
Secures $20M Round
February 14, 2019
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
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: