Dataloop, a Herzliya, Israel-based AI data management and annotation platform, announced that it raised $33 million in Series B funding to accelerate AI projects, bringing its total raised to $50 million.
NGP Capital and Alpha Wave Ventures led the round.
With this round of funding, Dataloop plans to expand its footprint. It will expand the Dataloop platform globally and build teams in the U.S., Europe, and India.
"The Dataloop platform helps businesses of any size to move their AI project into production, from start to finish. We are working to break through the limitations of AI development and create efficient workflows, easy-to-use management systems, and accurate annotation tools, so teams of all industries can use them," Eran Shlomo, CEO at Dataloop, said.
Dataloop customers include Intel, Toyota, LinkedIn, and Vimeo. It claims to have been adopted in retail, agriculture, robotics, self-driving cars, and the construction industry.
Company: Dataloop Ltd.
Raised: $33.0M
Round: Series B
Funding Month: November 2022
Lead Investors: NGP Capital and Alpha Wave Ventures
Additional Investors:
Company Website: https://dataloop.ai/
Software Category: AI data management and annotation platform
About the Company: Founded in 2017, Dataloop is a technology company that builds data infrastructure and a data operating system for AI companies. It first launched annotation capabilities and later expanded to other data management and prep aspects, allowing enterprises to close their data loops faster and shorten the time-to-market for a high-quality AI application. The Dataloop platform offers a new data development stack – combining data application extendability sitting atop our platform, and that consists of a full data lifecycle management system for unstructured data. Dataloop enables AI teams to visualize, collaborate, and explore datasets, build data pipeline automation processing, and weave human and machine intelligence. Its cloud-based infrastructure provides scalability, security, and reliability. Dataloop's mission is to develop the tools and methodologies for enabling accurate, efficient, and scalable human-machine communication over data.
Source: https://venturebeat.com/data-infrastructure/dataloop-automates-data-management-and-annotation-to-accelerate-ai-projects-raises-33m/