Deci, a Tel Aviv, Israel-based deep learning company harnessing AI to solve the AI efficiency gap, announced it raised $25 million in Series B funding.
The round was led by global software investor Insight Partners, with participation from existing investors Square Peg, Emerge, Jibe Ventures, and Fort Ross Ventures, as well as new investor ICON.
The investment comes just seven months after Deci secured $21 million in Series A funding, also led by Insight Partners, bringing Deci’s total funding to $55.1 million.
The funds will be used to expand Deci’s go-to-market activities, as well as further accelerate the company’s R&D efforts.
Company: Deci.AI Inc.
Round: Series B
Funding Month: July 2022
Lead Investors: Insight Partners
Additional Investors: Square Peg, Emerge, Jibe Ventures, Fort Ross Ventures, and ICON
Company Website: https://deci.ai/
Software Category: Deep Learning
About the Company: Founded in 2019 by Geifman, Ran El-Yaniv, and entrepreneur Jonathan Elial, Deci enables deep learning to live up to its true potential by using AI to build better AI. With the company’s end-to-end deep learning acceleration platform, AI developers can build, optimize, and deploy faster and more accurate models for any environment, including cloud, edge, or mobile. The platform is powered by Deci’s Automated Neural Architecture Construction (AutoNAC) technology, an algorithmic optimization engine that squeezes maximum utilization out of any hardware. The AutoNAC engine contains a Neural Architecture Search (NAS) component that redesigns a given trained model’s architecture to optimally improve its inference performance (throughput, latency, memory, etc.) for specific target hardware while preserving its baseline accuracy. Deci collaborates with various hardware manufacturers, Computer OEMs, and other ML ecosystem leaders, and is an official partner of Intel, Amazon Web Services (AWS), Hewlett Packard Enterprise (HPE), and NVIDIA among others.