PALO ALTO, Calif., November 8, 2021 – Landing AI, which offers instruments that make building and deploying AI systems in manufacturing sooner and simpler than ever, right now announced Series A funding of $57 million led by McRock Capital, https://aipromtschatgpt.com the first investment firm targeted solely on the Industrial IoT.
As well as, New York-primarily based global private equity and enterprise capital firm Insight Partners, Taiwania Capital, Canada Pension Plan Investment Board (CPP Investments), Intel Capital, Samsung Catalyst Fund, Far Eastern Group’s DRIVE Catalyst, Walsin Lihwa, and AI Fund all participated in the spherical.
Landing AI, led by synthetic intelligence visionary, Andrew Ng, developed LandingLens™, a quick, straightforward to make use of enterprise MLOps platform. It applies AI and deep learning to help manufacturers resolve visible inspection problems, find product defects more reliably, and generate business value.
Landing AI sees the subsequent period of AI as one in which all companies entry the benefits of AI-not simply consumer web companies like Google and Facebook-however legacy industries comparable to manufacturing, healthcare, and agriculture. To try this, Landing AI says industries should undertake a new, information-centric approach to constructing AI that ensures that the info conveys what they need the AI to study. Using knowledge-centric AI know-how, the application of AI will now not rely on huge information however on the information the entities actually have, which is commonly limited.
“You don’t always want massive knowledge to win with AI. You need good information that teaches the AI what you want it to learn,” said Ng, Founder & CEO of Landing AI. “AI constructed for 50 million data points doesn’t work whenever you only have 50 data factors. By bringing machine learning to everybody no matter the dimensions of their knowledge set, the following period of AI will have an actual-world impact on all industries.”
The data-centric strategy of Landing AI can be key to creating LandingLens fast and simple-to-use. The technique of engineering the information, as an alternative of the AI software program, provides an efficient approach for manufacturers to teach an AI model what to do. Domain specialists, not simply AI specialists, can now build an AI system, and take it to manufacturing. For instance, fairly than needing to write pages of code to practice a neural community, a website knowledgeable can do it with a few mouse clicks. This no code/low code information-centric platform permits new users to construct advanced AI models in lower than a day. Vision inspection projects that used to take over a year may be executed in simply weeks utilizing LandingLens.
“Landing AI will unleash the facility of the Industrial IoT one company, one manufacturing unit, and one manufacturing line at a time,” mentioned Scott MacDonald, Co-Founder and Managing Partner of McRock Capital. “We companion with relentless entrepreneurs, like Andrew, who bring transformative digital technologies to massive industrial markets.” As part of the financing, MacDonald has joined the Landing AI Board of Directors.
“Digital modernization of manufacturing is rapidly rising and is anticipated to reach $300 billion by 2023,” said George Mathew, Managing Director at Insight Partners. “The alternative and need for Landing AI is barely exploding. It will unlock the untapped section of focused machine imaginative and prescient tasks addressing quality, efficiency and output. We’re looking ahead to playing a role in the next section of Landing AI’s thrilling journey.”
Landing AI is on a robust growth trajectory and clients are reaping the advantages. “Partnering with Landing AI can improve the reliability and effectivity of our quality inspection process, which is important to our company’s progress. Using slicing-edge deep studying tools like LandingLens enables our workforce to move quicker and focus on creating and commercializing our subsequent-technology batteries,” said Tim Holme, Co-founder & CTO, QuantumScape.
The new investment might be used to speed up product innovation as well as develop engineering and operations teams within Landing AI, together with engineering, product, gross sales, and advertising and marketing. To affix the Landing AI crew please go to https://touchdown.ai/careers/ and to schedule a demo of LandingLens, please click on here.
