Funding and Finance
Edge AI startup Axelera AI closed a $27M Series A funding round this week. Innovation Industries led the round, with participation from imec.xpand and SFPI-FPIM. Axelera AI will use the funding for launching and producing its AI acceleration platform, as well as hiring.
AI platform LatticeFlow secured $12M in Series A funding. Atlantic Bridge and OpenOcean led the funding round, with participation from new investors FPV Ventures and existing investors btov Partners and Global Founders Capital. The funding will go towards expanding LatticeFlow’s capacity to diagnose and repair errors in AI data and models,
AI company OpenAI, most recently in the news for its AI text and image generators, is investing tens of millions of dollars in audio and video editing app Descript at a valuation of $550M. Between this, the recent expansion of its partnership with content platform Shutterstock, and more money potentially flowing OpenAI’s way from Microsoft, OpenAI is making moves to secure its position in modern AI-based content creation.
Launches and Updates
AWS announced Amazon Neptune Serverless, a serverless version of their graph database service which automatically provisions and scales resources for unpredictable graph database workloads. Amazon Neptune Serverless is available today to AWS customers running Neptune in specific regions; availability in other regions is coming soon.
Bloomberg announced that it had enlarged its carbon emissions dataset to cover 100,000 companies. The dataset includes company-reported carbon data, as well as Bloomberg-generated estimates of carbon data for companies that do not have or provide carbon emissions data, and accompanying data reliability scores.
Adding to their collection of vertical-specific releases of its Intelligent Data Management Cloud, Informatica launched their Intelligent Data Management Cloud for higher education this week. IDMC helps integrate educational data from a wide variety of decentralized sources while ensuring data remains secure and compliance and privacy standards are respected.
IBM released three new libraries this week, expanding their embeddable AI portfolio. These libraries include IBM Watson Natural Language Processing Library, IBM Watson Text to Speech Library, and IBM Watson Text to Speech Library. IBM Ecosystem partners will be able to use these libraries to develop and scale AI apps more quickly.
Analytics company ThoughtSpot debuted ThoughtSpot for Sheets, a web plugin for Google Sheets. Users will be able to install and run ThoughtSpot for Sheets directly in their web browser, capable of analyzing the data available in their Google Sheets spreadsheets while minimizing the technical knowledge necessary to do so. ThoughtSpot will be compatible with additional partners in the near future.
Enterprise data catalog company data.world made several hiring announcements this week. New Chief Marketing Officer Stephanie McReynolds joined data.world from Ambient.ai, where she served as head of marketing. Prior to that, McReynolds was the SVP of Marketing and first marketing executive at fellow data catalog company Alation. New SVP of Sales Richard Yonkers came to data.world from Knoema, an enterprise data hub provider, where he served as the senior vice president of sales. Mineo Sakan was the VP of Global Finance at data protection firm HYCU prior to joining data.world as their new VP of Finance.