Wednesday, May 22, 2024
HomeNewsSynthesis AI raises $17 million in Series A Funding Round

Synthesis AI raises $17 million in Series A Funding Round

Synthesis AI will use the funds to expand its team and increase its product portfolio.

Artificial intelligence startup Synthesis AI raises $17 million in its recently held series A funding round led by 468 Capital. Other investors like Sorenson Ventures, Strawberry Creek Ventures, Bee Partners, PJC, iRobot Boom Capital, and Kubera Venture Capital also participated in the company’s series A funding round. 

Synthesis AI said it plans to use the raised capital to expand its team and increase its product portfolio to help its clients develop advanced computer vision models faster than ever. 

In addition to expanding its team, the company also intends to expand its research into the convergence of CGI and AI, focusing on neural rendering, mixed training, and sophisticated human behavior modeling. 

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Florian Leibert, partner at 468 Capital, said, “Synthesis AI is uniquely positioned to win in the emerging synthetic data space. The breadth and depth of Synthesis AI’s platform, the quality of the team, and the extensive list of Fortune 50 customers firmly establish Synthesis AI as a category leader.” 

Leibert further added that they are pleased to assist Synthesis AI as it pursues its goal of fundamentally changing how AI models are created. 

This new development comes after the launch of Synthesis AI’s first dedicated community for developing and exploiting synthetic data in AI/ML and computer vision called OpenSynthetics. The one-of-a-kind platform allows developers to exchange tools and strategies for creating and using synthetic data. 

United States-based synthetic data technology startup Synthesis AI was founded by Yashar Behzadi in 2019. To date, Synthesis AI has raised more than $24 million from multiple investors over the past. 

“Synthetic data is at an inflection point of adoption, and our goal is to develop the technology further and drive a paradigm change in how computer vision systems are built,” said Behzadi. 

He also mentioned that the industry would soon be able to fully build and train computer vision models in virtual worlds, allowing for more advanced and ethical AI.

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Dipayan Mitra
Dipayan Mitra
Dipayan is a news savvy writer, who does not leave a single page of news paper unturned. He is also a professional vocalist who enjoys ghazals. Building a dog shelter is his forever dream.


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