GV, a corporate venturing subsidiary of internet and technology conglomerate Alphabet, has led an $11m funding round for US-based deep learning development platform developer Determined AI, VentureBeat has reported.
The round also included commitments from Amplify Partners, CRV, Haystack, SV Angel, The House and Specialized Types. The startup had previously received $2.6m in seed capital from undisclosed investors in 2017, the same year it was founded, according to TechCrunch.
Determined AI has created software that helps reduce the time and costs associated with creating deep learning and artificial intelligence (AI) technology, allowing organisations to set up the infrastructure and systems similar to internal infrastructure at large companies such as Facebook, Apple, Google or Microsoft.
The funding will be used to expand the company’s engineering team and add new features to its deep learning-model development tool.
The company said in a blog post: “We are entering the golden age of artificial intelligence. Model-driven, statistical AI has already been responsible for breakthroughs on applications such as computer vision, speech recognition and machine translation, with countless more use-cases on the horizon.
“At Determined AI, our goal is to power deep learning at the speed of thought. We build specialised software that directly addresses the challenges [deep learning] developers struggle with every day.”