A research firm that needs to assist enterprises make better employment of AI, RealityEngines.AI, this week declared that it has lifted a $5.25 Million round of seed funding. The round was spearheaded by Ram Shriram, Google founding board member, and Eric Schmidt, ex-Google Chairman, and CEO. Paul Buchheit, Khosla Ventures, Elad Gil, Deepchand Nishar, Don Burnette, Keval Desai, and others also took part in this round.
The fact that the platform was capable of lifting from this rather prominent group of sponsors obviously displays that its general thesis resonates. The firm, which does not have a product still, informs the media that it particularly needs to assist enterprises to make better employment of the noisier and smaller data sets they have and offer them with high-tech AI and ML systems that they can swiftly take into manufacturing. It also plans to offer its clients with systems that can clarify their forecasts and are free of different kinds of bias. This is something that is hard to do when the tool is fundamentally a black box.
As Bindu Reddy (CEO of RealityEngines) told the media, the firm aims plans to employ the funds to develop out its R&D team. The firm, after all, is dealing with some of the hardest and most fundamental issues in ML currently. And that requires money. Some already have accessible solutions such as generative adversarial networks.
On a related note, a startup located in Israel, Orca Security, declared a huge $6.5 Million seed round this week spearheaded by YL Ventures, a company that makes living spending in security startups in Israel.
That is a lot of cash for a seed round, but the firm, which is controlled by 2 ex-Check Point Security officials, is making an effort to solve a hard issue around securing apps in the cloud with no agent.
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