Deci raises $25 million Series B to accelerate the productization of AI applications
The investment comes just seven months after the Israeli startup secured $21 million in Series A funding for its deep learning development platform which helps AI developers build, optimize, and deploy AI models
Israeli startup Deci announced on Wednesday that it has raised $25 million in a Series B funding round led by global software investor Insight Partners, with participation from existing investors Square Peg, Emerge, Jibe Ventures, and Fort Ross Ventures, as well as new investor ICON. The investment comes just seven months after Deci secured $21 million in Series A funding, also led by Insight Partners, bringing Deci’s total funding to $55.1 million.
Deci was founded in 2019 by Yonatan Geifman, Ran El-Yaniv, and Jonathan Elial. Deci’s end-to-end deep learning development platform helps AI developers build, optimize, and deploy AI models to any environment such as cloud, edge, and mobile.
Deep learning-powered advancements in AI have led to innovations that have the potential to revolutionize services, products, and consumer applications across industries such as medicine, manufacturing, transportation, communication, and retail. However, the AI efficiency gap - a situation in which hardware is unable to meet the increasing computing demands of models that are growing in size and complexity - has proven to be an obstacle to more widespread AI commercialization. This efficiency gap means that inference is still generally bound to the cloud, where compute hardware is abundant but costs are high and concerns around data privacy and safety are prevalent.
Deci’s deep learning platform helps data scientists eliminate the AI efficiency gap by adopting a more productive development paradigm. With the platform, AI developers can leverage hardware-aware Neural Architecture Search (NAS) to quickly build highly optimized deep learning models that are designed to meet specific production goals.
The platform empowers data scientists to deliver superior performance at a much lower operational cost (up to an 80% reduction), reduce time to market from months to weeks, and easily enables new applications on resource-constrained hardware such as mobile phones, laptops, and other edge devices.
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Deci collaborates with various hardware manufacturers, Computer OEMs and other ML ecosystem leaders, and is an official partner of Intel, Amazon Web Services (AWS), Hewlett Packard Enterprise (HPE), and NVIDIA among others.
"The growing AI efficiency gap only further highlights the importance of ‘shifting left’ – accounting for production considerations early in the development lifecycle, which can then significantly reduce the time and cost spent on fixing potential obstacles when deploying models in production,” said Yonatan Geifman, CEO and co-founder of Deci. “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. This funding is a vote of confidence in our work to make AI more accessible and scalable for all."
