AI.Reverie, a computer vision company that generates synthetic data to train algorithms, has completed a $5.6 million equity funding round.
Vulcan Capital led the funding round with participation from Compound, In-Q-Tel, Resolute Ventures, SGInnovate, TechNexus, and Triphammer Ventures.
The latest investment brings the company’s financing since launch to over $10 million and will fuel revenue growth through talent and product expansion.
“Data is the driving force of value for computer vision, which is now mission-critical to many major industries, and synthetic data holds the potential to transform the way computer vision algorithms are trained,” said YB Choi, partner at Vulcan Capital and incoming board member of AI.Reverie.
“We look for companies that can bring disruptive technologies to extremely large markets and have seen AI.Reverie create a more efficient and effective source of data. This company has captured the lead in a potentially explosive new field.”
The AI.Reverie synthetic data platform creates a virtually endless supply of annotated images and videos to accelerate computer vision and machine learning by lowering the cost of training while improving the quality, diversity, and metadata accuracy.
The funding builds on a growth year for the company, which rapidly grew its client roster across government agencies and Fortune 500 clients with projects in Defense, Retail, Smart Cities, Industrials, and Agriculture, including airport simulation, weapons detection, cashier-less shopping, and delivery bots.
Image Credit: AI.Reverie