US-based artificial intelligence (AI) technology developer Spare5 has rebranded as Mighty AI and raised $14m in a series A1 round led by Intel Capital, the corporate venturing vehicle for semiconductor technology provider Intel.
The round included GV, the corporate venturing unit formerly known as Google Ventures, and Accenture Ventures, a subsidiary of professional services firm Accenture, as well as Foundry Group, Madrona Venture Group and New Enterprise Associates (NEA).
Founded in 2014, Mighty AI is developing technology intended to incorporate the ‘human’ insights that AI systems need to behave more like people.
Mighty AI will use the funding to expand its training-data-as-a-service platform as well as its data science, engineering and product, sales and marketing teams, along with Fives, a community of people that execute microtasks for the company that help inform it on how humans interact with audio, video or images.
Doug Fisher, general manager of Intel’s Software and Services Group, said: “We see a significant opportunity across applications such as automated driving, robotics, healthcare and the internet of things.
“To produce high quality data for training models to deploy, it is essential to obtain clean, accurate human annotations at scale. With today’s announcement, Intel is pleased to team with Mighty AI to power the world’s AI engines, operating on Intel architecture and guided by Mighty AI’s training data platform.”
Foundry, Madrona and NEA had previously supplied $3.25m for the company’s 2014 seed round before returning for a $10m series A the year after.