Deep learning company, Deci raises $25 million to fund AI applications

Deep learning company, Deci raises $25 million to fund AI applications

Israel-based deep learning company, Deci, raised $25 million in a Series B funding round led by Insight Partners. Companies including Icon and existing investors Square Peg, Emerge, Jibe Ventures, and Fort Ross Ventures also participated while Insight Partners again led the funding round. With a previous investment of $21 million in Series A funding,  the total funding now amounts to $55.1 million.

The recent capital inflow will speed up its research and development efforts to build an efficient deep learning platform. Deci’s deep learning platform aims to help enterprises reduce the “AI efficiency gap”. This refers to a situation where the embedded edge hardware cannot meet the growing demands of edge computation power in a resource-constrained environment.

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“Deci’s deep learning development platform has a proven record of enabling companies of all sizes to do just that by providing them with the tools they need to successfully develop and deploy world-changing AI solutions— no matter the level of complexity or production environment,” said Yonatan Geifman, CEO and co-founder of Deci.

Deci’s deep learning solution uses the company’s proprietary AutoNAC (Automated Neural Architecture Construction) technology, an optimized engine to aid data scientists in building efficient deep learning models that target a specific task and inference hardware. Using the platform, engineers and developers may experience improved performance at a lower operational cost. For example, some users report reducing lower operational costs by up to 80 percent while also reducing time to market.

The company recently announced the launch of version 2.0 of its deep learning platform to enable organizations to build, optimize, and deploy computer vision models on “any” hardware and environment. Further, at the MLPerf v2.0, Deci provided results of its AutoNAC-generated DeciBERT models. Here, the models sped up question-answering tasks on various Intel CPUs to obtain a 5x improvement.

“Deci’s powerful technology lets you input your AI models, data, and target hardware — whether that hardware is on edge or in the cloud — and guides you in finding alternative models that will generate similar predictive accuracy with massively improved efficiency,” said Lonne Jaffe, managing director of Insight Partners and board member at Deci.

“This funding is a vote of confidence in our work to make AI more accessible and scalable for all,” Geifman further added.

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