USA – FedML, a Sunnyvale, CA-based collaborative AI company, raised $6m in seed and pre-seed funding.
The round was led by Camford Capital, along with additional investors Plug and Play Ventures, AimTop Ventures, Acequia Capital, LDV Partners and other undisclosed investors. Co-founded by CEO Salman Avestimehr, a Dean’s professor at USC and the inaugural director of the USC-Amazon Center on Trustworthy AI, and his former PhD student Dr. Chaoyang He (CTO), who published several award-winning papers and has more than 10 years R&D experience at Google, Amazon, Facebook, Tencent and Baidu, FedML is a leader in collaborative AI, delivering an open-source library and enterprise software platform to train, deploy and customize machine learning models across edge and cloud nodes at any scale. Its distributed MLOps platform enables sharing of data, models, and compute resources in a way that preserves data privacy and security. The company is currently used by more than 1,900 developers and 10 large enterprise customers spanning multiple verticals.FedML has also signed 10 enterprise contracts spanning healthcare, financial services, logistics, retail, smart city, generative AI and web3 applications.28/03/2023
