Katonic.ai, an Australian company leveraging machine learning operations (MLOps), announced that it raised over US$1.6m in a pre-series A funding round led by Artesian, an Asia-Pacific-based venture capitalist. The funding was also supported by Boab AI, an entrepreneur and investment-dedicated organization.
It is a significant milestone for Katonic.ai as a leader in artificial intelligence and machine learning operations. The pre-series A funding will be used to expand its customer base, hire newer talent, expand research and development, and add more offerings to the service portfolio. Additionally, tying up with Artesian and Boab AI will give the company a strategic advantage of global connections in the MLOPs market.
Read More: Third Breach of 2022 Results in Okta Source Code Theft from GitHub
Katonic.ai was founded by Prem Naraindas, who expressed his gratitude upon receiving the fund because the two capitalists would greatly help the company to tread further on its growth trajectory. Katonic.ai’s MLOps platform is designed to break data silos and support organizations to streamline their data science workflows using AI-powered applications.
David Spencer, an Investment Analyst at Artesian, said, “Katonic’s end-to-end MLOps platform allows businesses to quickly and securely deploy AI/ML models into production, ensuring they maximise their return on investment.” He added that via the pre-series A funding, Artesian is also expanding its support to further AI developments globally.