RIYAD, Arabie saoudite, 20 mai 2024 — Le fonds technologique I d’eWTP Arabia Capital (« fond technologique I »), géré par eWTP Arabia Capital (« eWTPA »), l’une des principales sociétés de capital-investissement du Moyen-Orient, a été classé dans les Preqin League Tables comme le cinquième fonds de capital-investissement le plus performant dans la catégorie des 250 à 499 millions de dollars de taux de rendement interne (TRI) net pour la période 2015-2020.

« Nous sommes ravis que notre fonds technologique I soit reconnu comme l’un des fonds de capital-risque les plus performants dans notre secteur, a déclaré Jessica Wong, fondatrice et associée directrice d’eWTPA. Cette étape importante souligne l’engagement de notre équipe et la robustesse de notre stratégie d’investissement. Elle souligne également l’important potentiel de croissance du marché du Moyen-Orient et de l’Afrique du Nord, en particulier de l’Arabie saoudite, qui mérite une attention particulière. En tant que moteur essentiel du progrès technologique dans la région, nous sommes déterminés à remplir notre mission qui consiste à renforcer les entrepreneurs et à apporter de la valeur à nos investisseurs. »

« Être reconnus par Preqin valide notre travail acharné et notre engagement à soutenir et à contribuer activement à la construction de l’écosystème numérique saoudien, a déclaré Jerry Li, fondateur et associé directeur d’eWTPA. Alors qu’eWTPA continue de croître et d’élargir son portefeuille d’investissements, il reste déterminé à encourager l’innovation et à susciter des changements positifs en Arabie saoudite, dans le CCG et dans l’écosystème mondial des marchés émergents. »

eWTPA a enregistré des performances exceptionnelles, consolidant sa position parmi les leaders de l’industrie. Cette reconnaissance souligne l’engagement d’eWTPA à identifier les opportunités de marché à fort potentiel et à générer des rendements pour ses investisseurs.

Les Preqin League Tables sont considérées comme un système de classement complet et faisant autorité pour les performances du capital-investissement et du capital-risque. Preqin, l’un des principaux fournisseurs de données dans le secteur des actifs alternatifs, compile ces tableaux de classement en fonction de diverses mesures de performance, y compris le taux de rendement interne (TRI) net et d’autres indicateurs clés.

Le succès d’eWTPA reflète son approche stratégique de l’investissement dans les secteurs à forte croissance de la région MENA. Le portefeuille de la société comprend un large éventail d’entreprises prêtes à avoir un impact significatif dans leurs secteurs respectifs.

Agissant comme un pont entre l’Asie et le Moyen-Orient, le Fonds technologique I d’eWTPA a connu un succès important depuis sa création en 2019. Le Fonds a investi dans plus de 18 entreprises, dont plusieurs se sont établies avec succès en Arabie saoudite, comme J&T Express, Raha, Sahm et COFE.

À propos d’eWTPA :

Fondée en 2019, eWTP Arabia Capital est une société d’investissement basée en Arabie saoudite et en Chine. Soutenu par d’éminents fonds souverains régionaux et internationaux, des investisseurs institutionnels et des bureaux de gestion de patrimoine, eWTPA contribue à créer des écosystèmes numériques locaux robustes dans la région MENA en s’associant avec des entreprises internationales de premier plan et en leur offrant une passerelle pour établir une présence forte et durable dans la région. À ce jour, eWTPA a investi dans plus de 18 entreprises, dont 13 se sont déjà établies avec succès en Arabie saoudite.

Contact pour les médias :
Haile Liao
+966 0530868568
[email protected]

Photo – https://mma.prnewswire.com/media/2416426/eWTP_Preqin.jpg

RIYADH, Saudi Arabia, May 19, 2024 — eWTP Arabia Capital Technology Fund I (“Techology Fund I”), managed by eWTP Arabia Capital (“eWTPA”), one of the leading private equity firms in the Middle East, was listed in the Preqin League Tables as the the fifth top-performing VC funds in the US$250 Million to US$499 Million category by net Internal Rate of Return (IRR) for vintages between 2015-2020.

“We’re delighted by the recognition of our Technology Fund I as a top-performing VC fund in our sector,” expressed Jessica Wong, Founder and Managing Partner of eWTPA. “This milestone underscores the commitment of our team and the robustness of our investment strategy. It also underscores the significant growth potential of the Middle East and North Africa market, particularly in Saudi Arabia, warranting attention. As a pivotal driver of technological advancement in the region, we’re steadfast in our mission to empower entrepreneurs and deliver value to our investors.”

“Being recognized by Preqin validates our hard work and dedication to supporting and actively contributing towards building the Saudi digital ecosystem,” said Jerry Li, Founder and Managing Partner of eWTPA. “As eWTPA continues to grow and expand its investment portfolio, it remains committed to fostering innovation and driving positive change in Saudi, the GCC and the global emerging markets ecosystem.”

eWTPA has demonstrated exceptional performance, solidifying its position among industry leaders. This recognition underscores eWTPA’s commitment to identifying high-potential market opportunities and generating returns for its investors.

The Preqin League Tables are regarded as a comprehensive and authoritative ranking system for private equity and venture capital performance. Preqin, a leading data provider in the alternative assets industry, compiles these league tables based on various performance metrics, including net Internal Rate of Return (IRR) and other key indicators.

eWTPA’s success reflects its strategic approach to investing high-growth sectors in the MENA region. The firm’s portfolio includes a diverse range of companies poised to make a significant impact on their respective industries.

Acting as a bridge between Asia and the Middle East, eWTPA’s Technology Fund I has achieved significant success since its inception in 2019. The Fund has invested in over 18 companies, several of which have successfully established themselves in KSA, like J&T Express, Raha, Sahm and COFE.

About eWTPA:

Founded in 2019, eWTP Arabia Capital is an investment firm based in Saudi Arabia and China. Backed by marquee regional and international Sovereign Wealth Funds, Institutional investors, and family offices, eWTPA helps create robust local digital ecosystems in the MENA region by partnering with market-leading international businesses and providing a gateway for these companies to establish a strong and sustainable presence in the region. To date, eWTPA has invested in over 18 companies, 13 of which have already established themselves successfully in KSA.

Media contact:

Haile Liao
+966 0530868568
[email protected]

Photo – https://mma.prnewswire.com/media/2416426/eWTP_Preqin.jpg

SAN FRANCISCO, May 17, 2024 — Angeles Investors, a leading investment community dedicated to finding, funding, and growing the most promising Hispanic and Latino startup ventures, is excited to announce the unveiling of the top 100 Hispanic or Latino venture startups in the United States. This prestigious recognition will take place at the Angeles Q2 Summit Event & Awards, proudly sponsored by J.P. Morgan, on May 16-17, 2024, in San Francisco, California.

The Angeles 100 celebrates a diverse array of venture-backed startups that are driving innovation and shaping the future of entrepreneurship. These exceptional companies align closely with Angeles Investors’ mission, embodying the qualities of resilience, vision, and growth that the organization actively supports and invests in. This year’s honorees serve as prime examples of how startup founders are propelling businesses forward and positioning their enterprises for sustained success.

Selection for the 2024 Hispanic and Latino startup venture awards was based on rigorous criteria, including securing funding ranging from seed to Series E, incorporation in the United States, and demonstrating consistent year-over-year growth. The chosen ventures represent a dynamic cross-section of industries and showcase the remarkable ingenuity and ambition prevalent within the Hispanic and Latino entrepreneurial community.

“We are thrilled to gather in San Francisco, California, at J.P. Morgan, to celebrate outstanding business achievements, exceptional leadership, and the spirit of innovation that defines the startup landscape,” remarked David Olivencia, CEO of Angeles Investors. “This event presents a unique opportunity to forge new partnerships, glean insights from esteemed investors and entrepreneurs, and honor the remarkable accomplishments of the Angeles 100.”

The Angeles Q2 Summit Event & Awards will showcase the Angeles 100 during an evening of recognition and celebration at J.P. Morgan in San Francisco, California. Attendees are invited to join the festivities either virtually or in person. Tickets for the event can be purchased online, and members of the media are encouraged to attend.

Angeles Investors stands as one of the largest and fastest-growing Angel Investing groups in America, uniting individuals from diverse ethnicities and backgrounds across the nation to champion Latino and Hispanic ventures in their quest to build the next generation of groundbreaking companies. For those interested in supporting and engaging with Angeles Investors, membership options are available for exploration. Joining Angeles Investors unlocks access to exclusive investment opportunities within the dynamic Hispanic and Latino entrepreneurial ecosystem.

SOURCE Angeles Investors

CHICAGO, May 16, 2024 — Today, Angeles Ventures, a Latino and woman-led early-stage VC fund, announced an equity investment from Bank of America that will accelerate its goal to find, fund, and grow Hispanic and Latino ventures in the U.S.

Latinos account for over 20% of the U.S. population and are the most entrepreneurial group in the United States, but they receive less than 2% of venture capital funding. Angeles Ventures, which aims to bridge this gap, is a seed-stage fund focused on tech-enabled B2B and B2C startups based in the U.S. To date, Angeles Ventures Fund I has made four investments (Storybook, Linker Finance, Certiverse, and Sigo Seguros), joining successful investors such as Goodwater, Chingona, Launch (Jason Calacanis), Hyde Park Ventures, Listen Ventures, and many others in oversubscribed rounds.

Angeles Ventures is led by two Latino General Partners: Adela Cepeda, an awarded financial leader and entrepreneur who exited her previous business, and David Olivencia, a super angel and senior executive leader with 28+ years of experience in Fortune 100 Tech Companies. Together, they built the angel investing group Angeles Investors, which has 260+ members and has made over 23 investments. Angeles Ventures is leveraging the strength of this network to drive outsized returns and catalyze funding for Hispanic and Latino founders in the U.S.

Adela Cepeda commented, “We’re delighted to bring on an institutional investor that is aligned to our mission. The U.S. Hispanic and Latino community is greater than those of India or Brazil and represents a sleeping giant of economic might and alpha.” David Olivencia said, “We are honored to have one of the world’s largest banks as an LP. We will continue to raise capital to further support our mission that has a track-record of driving outsized returns by investing in the fastest-growing demographic of the U.S.”

“We are inspired by the work of Angeles Ventures to broaden access to capital to entrepreneurs from such an important segment of our community,” said Rita S. Cook, president, Bank of America Chicago. “We look forward to supporting their mission as they leverage their vast network of Hispanic and Latino angel investors to source pipeline for the fund.”

Bank of America invests equity in women- and minority-led funds which, in turn, invest in entrepreneurs from diverse backgrounds to grow their businesses and drive economic opportunity in their communities. As of December 2023, Bank of America has committed more than $550 million in equity investments to women- and minority-led funds, more than doubling its initial $200 million commitment.

Learn more about Angeles Ventures’s news here.

About Angeles

The Angeles platform aims to find, fund, and grow the most promising Hispanic and Latinx startups. In 2019, Angeles launched an angel investing group, Angeles Investors, and has since made over 23 investments totaling more than $7 million, with the participation of ~300 members. This success has positioned it as one of the largest and fastest-growing angel investing groups in the U.S. (and the largest one focused on Hispanic founders).

About Angeles Ventures

In October 2023, Angeles launched its Fund I to invest in 20-30 tech-enabled seed-stage startups based in the U.S. led by Hispanic and Latinx founders with checks ranging from $100k to $1M+. With this fund, Angeles capitalizes on the tremendous access and momentum of the Angeles Investors network, leverages the successful track record of our General Partners (GPs), Adela Cepeda, and David Olivencia, and continues to bridge the funding gap for Hispanic and Latinx founders.

Learn more at www.angelesvc.com, and connect with us on LinkedIn (@angelesinvestors)

Media contact: Francisco Mariscal | [email protected]

SOURCE Angeles Investors

INDIANAPOLIS, May 16, 2024  — Allison Ventures, Allison Transmission’s venture capital arm, is pleased to announce it has committed to a $10 million investment in EnerTech Capital, a venture capital firm focused on the development of emerging technologies and business models in the mobility space.

Through this partnership, Allison will gain access to EnerTech’s large network of high-tech companies that are advancing automotive technologies in the electrification, connectivity, autonomy and digitization sectors.

“We are excited to have Allison Transmission join as an investor in our latest fund, The Global Strategic Mobility Fund. The partnership between Allison Transmission and our firm will provide actionable insights into emerging technologies that help complement their internal innovation strategy,” said Wally Hunter, Managing Partner, EnerTech Capital. “Allison is joined by nine other corporate investors in the fund, and we look forward to leveraging the synergies between these groups as we build out our investment portfolio.”

Through EnerTech’s network, Allison Ventures will have the opportunity to collaborate with like-minded companies that are committed to developing new technologies and business models to enhance the converging technology, energy, utility and transportation sectors. This will include access to insights into trends in mobility, market research, business development opportunities and data to further enhance Allison.

“EnerTech seeks to redefine the mobility sector through investments in companies that are shaping the future of the industry,” said Todd Bradford, Vice President, Strategy, Business and Corporate Development, Allison Transmission. “This strategic partnership will accelerate Allison’s efforts to increase our innovation pipeline across commercial duty mobility and work solutions.”

To learn more about Allison Ventures, visit allisontransmission.com.

About Allison Transmission
Allison Transmission (NYSE: ALSN) is a leading designer and manufacturer of propulsion solutions for commercial and defense vehicles and the largest global manufacturer of medium- and heavy-duty fully automatic transmissions that Improve the Way the World Works. Allison products are used in a wide variety of applications, including on-highway trucks (distribution, refuse, construction, fire and emergency), buses (school, transit and coach), motorhomes, off-highway vehicles and equipment (energy, mining and construction applications) and defense vehicles (tactical wheeled and tracked). Founded in 1915, the company is headquartered in Indianapolis, Indiana, USA. With a presence in more than 150 countries, Allison has regional headquarters in the Netherlands, China and Brazil, manufacturing facilities in the USA, Hungary and India, as well as global engineering resources, including electrification engineering centers in Indianapolis, Indiana, Auburn Hills, Michigan and London in the United Kingdom. Allison also has approximately 1,600 independent distributor and dealer locations worldwide. For more information, visit allisontransmission.com.

About EnerTech Capital
EnerTech Capital is a globally recognized venture capital firm that has been investing and partnering with innovators since 1996, empowering entrepreneurs to build transformative technology companies. The firm has pioneered an integrated approach to business building, leveraging strategic collaboration across a diverse stakeholder ecosystem to create value; with a focus on Mobility, Industry 4.0, and Connected Customer. EnerTech’s current platform has a significant focus on emerging opportunities in the mobility space across Electrification, Autonomy, Smart Mobility, and Connectivity. The firm has a long history of working with corporate strategic investors and providing value added insights and partnership opportunities to support growth and innovation objectives.

EnerTech has offices in Toronto, Philadelphia, Palm Beach Gardens, Boston, and Orange County.

For more information, visit: www.enertechcapital.com

SOURCE Allison Transmission Holdings Inc.

New AI platform offers a trusted internet companion with age-appropriate guardrails, helping parents foster and support curious children

NASHVILLE, Tenn., May 16, 2024 — Angel AI, a parent-designed AI platform that provides an age-appropriate internet experience for children aged 5 to 12 years old, announces a $4.75 million Seed funding round led by Cortical Ventures with significant participation from Village Global and several other prominent angel investors. 

Angel AI uses the most powerful and advanced AI technology today, such as large language models, natural language processing (NLP), speech recognition and synthesis, and agent-based systems with memory. This technology allows Angel to generate age-appropriate answers to children’s questions, delivering compelling but safe content and entertainment. Additionally, Angel’s platform has the ability to learn, personalize, and understand the child over time. The AI supports children’s curiosity and encourages them to find answers by providing multi-modal content at their comprehension level, including video and audio, to enhance the learning experience.

Angel’s content is also free from distracting advertisements or predatory monetization tactics, which have become commonplace in children’s digital experiences–often to their detriment. In stark contrast to the status quo, Angel is also free of data collection for reselling and always will be.

“We have already seen how social media platforms and children’s content sources are too akin to ‘digital narcotics,’ designed to be addictive and feed children age-inappropriate content, leading to higher rates of depression and loneliness,” said Tim Estes, CEO and founder of Angel AI. “As a father of two young boys, I wanted something better for my kids. So did the many parents that make up the Angel team. Instead of fully disconnecting children from the internet, we’re advocating for an innovative and more effective approach. By using the Angel platform, parents can carefully integrate technology, letting their children explore safely while building healthy online and offline habits and promoting digital fluency.”

The Angel AI platform will also include a parent insight portal, offering unique insights about children’s interests online and offline. In addition to the platform’s current services, Angel will continue to roll out new capabilities in the coming months with the ultimate goal of creating a multi-faceted ecosystem that will redefine how children experience the internet.

“Angel AI is solving a problem that every parent in the world encounters and yet remains unsolved: allowing their kids to use the internet without exposing them to inappropriate and unsafe content,” said Jeremy Achin, general partner at Cortical Ventures, founder and CEO of NeoCybernetica and hOS and former CEO of DataRobot. “Changing this paradigm is a massive opportunity and one Cortical is excited to support as we continue to focus on the theme of AI-powered human engagement for good.”

The round will accelerate Angel AI’s investments in hiring, product development, and marketing initiatives. Over 100 parents are actively testing Angel’s platform, demonstrating significant interest and anticipation for the app. Others who are interested are encouraged to join Angel’s waitlist. Invitations to use the platform will be rolled out in phases this summer as a part of the company’s plan to continue expanding parent and child engagement with the platform.

“Village Global prides itself on carefully selecting partners who are both leaders and responsible stewards in their areas of expertise,” said Anne Dwane, co-founder & partner at Village Global. “Angel is changing the world by using AI for good. We are proud to partner with an organization that helps protect children and educates and empowers families while modeling behaviors of responsible digital citizens.”

For more information, please visit https://angelkids.ai.

About Angel AI
Angel’s AI platform offers age-customized content for children aged 5-12+, creating a protective and personalized online experience. This parent-designed platform ensures children can explore online resources and information customized to their age and parents’ values. Angel AI gives parents key insights to understand and develop their child’s interests. In short, Angel is the trusted online companion parents can rely on to foster and support curious children with appropriate guardrails. To learn more about Angel AI, please visit Angelkids.ai.

SOURCE Angel AI

NEW YORK, May 16, 2024 — PolyAI, a leading global provider of enterprise voice assistants, has raised $50 million in a Series C round of funding. The round is backed by new investors Hedosophia, Nvidia’s NVentures and Zendesk, with follow-on investments from Khosla Ventures, Georgian, Point72 Ventures, Sands Capital and Passion Capital. With this raise, PolyAI has now secured over $120 million in funding to continue redefining what’s possible with voice-first, AI-powered automation in enterprise contact centers.

The company spun out of Cambridge University’s preeminent Machine Intelligence Lab in 2017, and today serves close to 100 enterprise customers including FedEx, PG&E, Caesars, Marriott, Unicredit and other Fortune 500 companies. In the past year, a PolyAI enterprise customer launched one of the world’s first voice assistants to be fully powered by generative AI, now used by millions of consumers. With another global brand, PolyAI released the world’s most multilingual enterprise assistant, speaking 12 languages. PolyAI has grown 10x over the last two years, with US companies representing over 70% of their revenue.

Customer sentiment runs high: “I was extremely impressed with PolyAI’s intuitive and natural conversational abilities and the impact it will have on customer experience,” said Pavan Kapur, who partnered with PolyAI while Chief Commercial Officer at Caesars Entertainment. “As a customer-obsessed leader, I am excited to see PolyAI continue to innovate for businesses and customers alike.”

Reacting to the funding, PolyAI CEO and Co-Founder Nikola Mrkšić stated, “Anyone who has ever picked up the phone to get support from their favorite brands has experienced the frustration of dealing with bad customer service. Our mission is to make every company the best version of itself in every customer interaction. This raise is a testament to the work we’ve put in to make that mission a reality.” Of the company’s intention for the funds, Mrkšić stated: “We aim to be the voice that handles – and handles well – over half of all automated customer service calls within the next five years.”

The up round indicates VCs are sharing this enthusiastic vision. “We are experiencing a Cambrian explosion in AI that will impact every industry,” said Vinod Khosla, founder of Khosla Ventures. “We bet early on PolyAI and the team as a category creator for AI-powered, voice-based customer support, and are thrilled to continue supporting them in making customer service the top brand experience for any company.”

In addition to logos named above, PolyAI’s clients include global titans in logistics, banking, hospitality, home services, insurance, energy, retail, healthcare, manufacturing and telecoms, as well as organizations in the public sector. To learn more about PolyAI, please visit www.poly.ai.

About PolyAI :

PolyAI specializes in creating the most lifelike conversational AI voice assistants in the world. With a focus on delivering exceptional customer service, PolyAI serves a wide range of high-call volume industries and is committed to revolutionizing the ways customers interact with brands through advanced, remarkably human voice AI solutions. PolyAI’s performance has earned spots in Forbes AI 50, Gartner Cool Vendors and Market Guide for Conversational AI Solutions, as well as a Gold Stevie Award for Contact Center Solutions in 2024. For more information, visit their website at www.poly.ai.

SOURCE PolyAI

Funding will support Genesys Works’ strategic growth plan, including expansion to seven new markets by 2028

HOUSTON, May 16, 2024 — Genesys Works, a national youth career readiness program for students in underserved communities, announced today that it has received a $7 million grant from philanthropist MacKenzie Scott.

The funding will support Genesys Works’ strategic growth plan to significantly extend its reach and impact. Over the next five years, the nonprofit will triple the number of students served in existing and new markets. It recently announced plans to launch a new site in Jacksonville, Fl., in the summer of 2025.

“This grant is a validation of our impact to date and our potential to scale and prepare more young people across the country to become the future-ready leaders and professionals our workforce needs,” said Jeffrey Artis, Genesys Works President and CEO. “Our proven approach provides participating students with the knowledge, support, access, and navigational skills that place them on a pathway to success.”

Genesys Works has served over 11,000 students to date and currently partners with high schools and over 200 companies in seven cities across the country. The nonprofit has a proven track record of connecting young people to higher education and livable-wage careers, as evidenced by its outcomes. More than 90% of participants enroll in college. Program alumni earn a median income of $60,000 per year six years after high school and are three times more likely to graduate with a bachelor’s degree than peers from their communities.

About Genesys Works
Genesys Works provides pathways to career success for high school students in underserved communities. Our program consists of 8 weeks of technical and professional skills training, paid year-long corporate internships, college and career coaching, and long-term alumni support to move individuals out of economic inequality and into professional careers. Founded in 2002, Genesys Works now serves thousands of students annually in Houston, Chicago, Minneapolis/St. Paul, the San Francisco Bay Area, Washington’s National Capital Region, New York City, and Tulsa. To learn more, visit genesysworks.org.

SOURCE Genesys Works

New financing led by Bessemer Venture Partners will expand go-to-market operations and accelerate product roadmap

ANN ARBOR, Mich., May 16, 2024 — Voxel51, the leader in visual AI, today announced that it has closed a $30M Series B funding round. The round was led by Bessemer Venture Partners, with participation from new investor Tru Arrow Partners and existing investors Drive Capital, Top Harvest Capital, Shasta Ventures and ID Ventures. Voxel51 will use this funding to scale up its go-to-market organization, expand its community, invest in AI research and accelerate its roadmap to meet the growing market demand for solutions that unlock the value of visual AI.

Voxel51 was founded by a team of machine learning and computer vision experts to help address the distressing failure rate of AI projects. While investments in AI have exploded, a recent article in Harvard Business Review reported that the failure rate of AI projects is estimated to be as high as 80%. With visual data, such as the image and video data that already make up over 60% of all data traffic, becoming an increasingly important part of AI projects, the complexity and difficulty of building successful AI applications only increases. All too often, the culprit behind these failures is the struggle to put visual data to work in building production-ready AI models and applications—today’s fragmented, inflexible tools and clunky manual processes lead to lengthy development cycles and painful errors in production.

Voxel51 offers the antidote to those headaches, transforming the way that AI engineers and teams build visual AI. Voxel51 provides the leading refinery for data + models, where AI builders can simplify and automate their workflows to explore, visualize, curate and test datasets and put them to use to build models and applications. Tens of thousands of AI builders rely on Voxel51’s open source FiftyOne and enterprise FiftyOne Teams offerings to build production-ready visual AI that is dramatically more accurate and robust, improving team productivity by up to 50% and model accuracy by up to 30%. Innovative organizations including LG Electronics, Berkshire Grey, Precision Planting, RIOS Intelligent Machines and Forsight use Voxel51 solutions to help them build innovative visual AI solutions that improve product quality, ensure safety and increase efficiency.

“Traditional enterprises have increasingly sophisticated AI and ML teams with complex workflows that still include painful manual processes,” said Lindsey Li, investor at Bessemer Venture Partners. “As soon as Brian described his vision at Voxel51, we could see the platform’s role as core enterprise AI infrastructure of the future. We’ve been impressed by the entire team and their elegant and differentiated solution as a true orchestration layer for customers to build AI-forward and AI-native applications, faster and more easily. We are thrilled to partner with the team to build and scale their continued success.”

“No one would build and tune a race car on a grass field and expect to win a Formula 1 race,” said Brian Moore, CEO and co-founder of Voxel51. “Yet, organizations building visual AI are all too often forced to build and fine-tune models with mislabeled, inadequate and under-representative data and then hope for success in production. We’re helping our customers and community build better AI applications by bringing their models and data together in one place, and we’re thrilled to have the support of great investors to accelerate our mission to make visual AI a reality.”

This new fundraising round is a milestone enabled by the momentum demonstrated since the close of its Series A funding round:

• 4x increase in community membership and engagement
• 6x growth to over 2 million downloads of the open source FiftyOne project
• 10x increase in ARR for the commercial FiftyOne Teams offering

That growth has been supported by continued innovation delivered by the Voxel51 team, including the following recent highlights:

• Integration of FiftyOne and NVIDIA Omniverse to help autonomous vehicle developers create, curate, and visualize robust synthetic training data to maximize AI model performance
• Native vector search integrations with engines including Pinecone, MongoDB, Redis, Qdrant and more to enable fast, easy search through billions of images
• Introduction of VoxelGPT, a natural-language interface to FiftyOne that makes it possible for users to leverage large language models (LLMs) to rapidly and easily gain insights about visual data

“FiftyOne Teams is critical to getting our AI models into the real world,” said Matt Shaffer, VP of Artificial Intelligence and Co-Founder at RIOS Intelligent Machines. “It’s the hub that powers our AI workflows, from data management to model refinement, enabling us to deliver AI-powered robotics into production lines rapidly and reliably to help our customers improve food packaging, reduce waste, and improve safety for any person on the factory floor.”

To learn more:

About Voxel51

Voxel51 is helping organizations make visual AI a reality. Our open source and commercial software enables teams to build high-quality datasets and computer vision models that power leading machine learning and artificial intelligence applications. Tens of thousands of engineers and scientists have integrated open source FiftyOne into their workflows, and enterprise customers spanning from automotive, robotics, security and retail to healthcare rely on FiftyOne Teams to securely collaborate on datasets and models. We’re building a fully-remote team of exceptional and diverse people who want to bring visual AI to life. To learn more, visit voxel51.com.

SOURCE Voxel51