Akridata Completes $15 Million Series A

<p><strong>LOS ALTOS<&sol;strong> &&num;8212&semi; Akridata&comma; a pioneer in Data-Centric AI&comma; announced the completion of its <span class&equals;"xn-money">&dollar;15 million<&sol;span> Series A round led by Venture Capital firms TeleSoft Partners&comma; Accel&comma; and Mobile Foundation Ventures &lpar;MFV&rpar; Partners&period;<&sol;p>&NewLine;<p>Akridata also announced the world&&num;8217&semi;s first Edge Data Platform for Data-Centric Artificial Intelligence &lpar;AI&rpar;&period; With the first AI infrastructure platform in the Data-Centric AI category&comma; Akridata provides a decentralized structure and scalable process to deliver curated&comma; consistent&comma; and relevant AI data sets&period;<&sol;p>&NewLine;<p>Advanced AI and Autonomy depend on massive amounts of data generated at the Edge to fuel continuous Deep Learning&period; Akridata was formed in 2018 to solve AI&&num;8217&semi;s Exascale data problem&comma; a requirement to move AI out of experimentation and into real-world production&period; From automotive and transportation&comma; to retail and healthcare&comma; this need is a major obstacle that prevents AI-enabled products from making it to the marketplace&period;<&sol;p>&NewLine;<p>&&num;8220&semi;The diverse requirements of ADAS&sol;AV &lpar;Advanced Driver Assisted Systems&sol;Autonomous Vehicle&rpar; necessitate many elements including deep learning&comma; cloud deployment and in-vehicle services&comma; among others&period; What ties all these together is data and a massive data challenge&comma;&&num;8221&semi; said <b><span class&equals;"xn-person">Kishore Jonnalagedda<&sol;span><&sol;b>&comma;<b> Director of Engineering&comma; Toyota Motor Company North America<&sol;b>&period; &&num;8220&semi;Akridata brings us a comprehensive and novel solution that drives efficiencies&comma; lowers the cost and accelerates our team&&num;8217&semi;s work toward our objectives&period; We will gain immediate leverage by automating data pipelines from edge locations to the cloud&comma; allowing our data science and product development teams to focus on what matters most&colon; delivering best-in-class ADAS&sol;AV solutions and providing mobility for all&period;&&num;8221&semi;<&sol;p>&NewLine;<p>The new funding will be used to scale the organization with new hires&comma; especially in engineering and customer success roles&comma; drive further product innovation&comma; and advance Akridata&&num;8217&semi;s go-to-market initiatives to meet the market demand for Data-Centric AI solutions&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Real-world AI is all about data and solving AI&&num;8217&semi;s data problem is what Akridata was formed to do&period; We are delighted by the level of interest from the investment community and look forward to scaling Akridata to help take AI out of experimentation and into the broad marketplace&comma;&&num;8221&semi; said <b><span class&equals;"xn-person">Kumar Ganapathy<&sol;span>&comma; co-founder and CEO of Akridata<&sol;b>&period; &&num;8220&semi;The trust these prominent VC firms have put into Akridata is a testament to the quality of our engineering&comma; the significance of the business need we are meeting&comma; and the market-readiness of our solution &&num;8212&semi; the Akridata Edge Data Platform&period;&&num;8221&semi;<&sol;p>&NewLine;