Semiconductor supplier Macnica has provided $40m of funding for CrowdAnalytix, the US-based creator of a crowdsourcing platform for artificial intelligence code, VentureBeat has reported.
Founded in 2012, CrowdAnalytix has developed an online platform that allows users to crowdsource AI, machine learning and natural language processing algorithms from a community of more than 20,000 data scientists.
The platform’s human layer, CAX, provides access to the community, and the algorithms are then migrated to the second layer of the platform, DataX, which provides the tools to required to translate them into usable tools. Its customers include businesses in industries such as retail, consumer packaged goods and healthcare.
Macnica acquired a 41.8% stake in CrowdAnalytix through its investment, which consisted of primary and secondary share purchases. CrowdAnalytix had been a partner of Macnica since late 2017 and the deal will officially make it an affiliate of the corporate.
The company intends to leverage Japan-based Macnica’s resources to expand in the country while moving into areas like healthcare and manufacturing, CrowdAnalytix chief executive Divyabh Mishra told VentureBeat.
CrowdAnalytix had received $1m in seed funding in 2016, having secured $2m in an earlier seed round also backed by unnamed investors in 2012. Its website lists Accel and SAIF Partners as existing investors.