Rapid Automatic Image Categorization Company Synthetaic Raises $13 Million
- Synthetaic recently announced that it has raised $13 million. These are the details.
Synthetaic – an end-to-end AI company – recently announced that it has closed a $13 million Series A funding round led by Lupa Systems and with participation from TitleTown Tech, Betaworks, Booz Allen Hamilton and Esri. The funding will be used to scale Synthetaic’s groundbreaking Rapid Automatic Image Categorization (RAIC) platform and continue to build strategic partnerships to analyze some of the world’s most important datasets. Ben FitzGerald of Lupa Systems has also joined Synthetaic’s board of directors.
Synthetaic offers organizations an end-to-end pipeline for AI-enabled solutions without the traditional reliance on human-labeled data, enabling AI insights in minutes instead of months of human annotation . Synthetaic’s flagship technology, RAIC, enables rapid object labeling, AI modeling, and solution deployment by analyzing large multidimensional imagery datasets, and empowers experts and non-experts alike to create and run detection AI models in minutes.
By using RAIC and its end-to-end AI pipeline, Synthetic is able to solve the underlying data problem of AI. Synthetaic’s platform can rapidly train and deploy AI models that surpass the speed and accuracy of traditional approaches, creating models in minutes that are on par with state-of-the-art hand-labeled models.
Synthetaic has partnered with a number of organizations across all sectors, including healthcare, geospatial AI, security and conservation. And the company worked with Climate TRACE to identify CAFOs to estimate methane emissions; Michigan Medicine at the University of Michigan to classify rare brain tumors; the US Air Force to quickly extract key insights from geospatial data; and National Geographic to help identify and track rare species to guard against poaching.
The Series A funding round will help Synthetaic grow its team and scale its cloud and generative AI technologies that power the IRAC. And the company will also leverage these funds to support strategic technology partnerships currently underway and in their pipeline. The $13 million Series A round brings Synthetaic’s total to $17.5 million.
“The Synthetaic team has unlocked something very important with its RAIC technology. Organizations from defense to climate change to conservation need the ability to analyze data instantly and create new models of data. ‘AI just as quickly. The current state of the art where AI models are trained from hand-labeled data is expensive, time-consuming and increasingly outdated. This is the only team we’ve met with the vision and technical talent to create a scalable alternative.
—Ben FitzGerald at Lupa Systems
“The fact is that all AIs developed today are data-intensive. Feeding AI with high-quality labeled data, whether you’re working in a data-rich or data-poor environment, is a huge challenge. It’s expensive and time-consuming, and it’s the number one thing holding us back from applying AI more widely and more effectively. Our platform solves this problem to help accelerate the global transition to practical AI. »
— Corey Jaskolski, Founder and CEO of Synthetaic