Edge Impulse, a San Jose, CA-based which offers a SaaS-based machine learning platform for creating projects for edge devices, raised $34 million in new Series B funding to grow its operations, marketing, and staff.
The round was led by Coatue, joined by existing investors Canaan Partners, Acrew Capital, Fika Ventures, Momenta Ventures, and Knollwood Investment Advisory.
The new funding will be used to double Edge Impulse’s staff from 40 people to 80 employees through 2022, particularly in software engineering.
Company: EdgeImpulse Inc.
Raised: $34.0M
Round: Series B
Funding Month: December 2021
Lead Investors: Coatue
Additional Investors: Canaan Partners, Acrew Capital, Fika Ventures, Momenta Ventures, and Knollwood Investment Advisory
Company Website: https://www.edgeimpulse.com/
Software Category: Development platform for embedded machine learning
About the Company: Edge Impulse is the leading development platform for embedded machine learning, used by over 1,000 enterprises across 45,000 ML projects worldwide. Edge Impulse is on a mission to enable the ultimate development experience for machine learning on embedded devices for sensors, audio, and computer vision, at scale. From getting started in under five minutes to MLOps in production, we enable highly optimized ML deployable to a wide range of hardware from MCUs to CPUs. With Edge Impulse, developers, engineers, and domain experts solve real problems using machine learning in embedded solutions, speeding up development time from years to weeks.
Source: https://www.enterpriseai.news/2021/12/09/embedded-ml-platform-vendor-edge-impulse-secures-34m-in-new-funding/