USA – AI.Reverie, a NYC-based computer vision company that generates synthetic data to train algorithms, completed a $5.6m in equity financing.
The round, which brought total financing since launch to over $10m, was led by Vulcan Capital and other institutional investors included Compound, In-Q-Tel, Resolute Ventures, SGInnovate, TechNexus and Triphammer Ventures. In conjunction with the funding, YB Choi of Vulcan Capital joined AI.Reverie’s Board of Directors. The company intends to use the funds for growth through talent and product expansion. Led by Daeil Kim, co-founder and CEO, AI.Reverie provides a synthetic data platform that creates a 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 accuracy of metadata. The funding builds on a gorowth year for AI.Reverie, which 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. 14/04/2020
