Datature raised Openspace led US $2.7 M to build breakthrough AI capabilities
Datature, located in Singapore, has secured US $2.7 million from local venture capital company Openspace Ventures for its no-code MLOps platform, which helps enterprises and teams to build breakthrough AI capabilities.
The round was also attended by January Capital.
Without writing a single line of code, Datature’s comprehensive suite of solutions allows teams to annotate, enhance, train, and deploy computer vision models. It enables teams to develop ground truths, transfer learning, and deploy AI models quickly.
Thousands of teams have used the company’s platform to collaborate, create, and deploy innovative AI solutions in the medical, defence, industrial, and retail sectors, according to the company.
With the new financing, Datature will be able to develop its platform to cover more use cases, such as video analytics, medical and point-cloud data ingestions, and a neural network cloud API that allows customers to deploy AI capabilities everywhere.
“Today, most authoritative and experienced industry experts do not necessarily possess the technical abilities to architect and deploy machine learning solutions. Datature hopes to support the next wave of citizen data scientists and deep-tech teams with a self-serve, end-to-end platform that enables anyone to orchestrate large-scale ML projects,” said Co-Founder Keechin Goh.
Javier Ng, Investor at January Capital, said: “Datature’s platform addresses the two key fundamental barriers of AI adoption: skills shortage and the complexity involved in the development process. By empowering non-technical teams to utilise computer vision, Datature accelerates the time to value for mission-critical use cases.”
The machine learning industry is expected to grow at a rate of 43% during the next five years, reaching $30.6 billion in 2024.
Openspace is a venture capital firm that manages over 650 million dollars in early-stage technology investments. GoTo (Gojek), Kumu, Pluang, Biofourmis, and Halodoc are among the companies in which the corporation has invested.
The venture capital business has offices in Jakarta, Bangkok, Manila, and Ho Chi Minh City, as well as four funds.
