Artificial intelligence startup ThirdAI raises $6 million in its seed funding round led by Neotribe Ventures. Other investors like Cervin Ventures and Firebolt Ventures also participated in the funding round.
ThirdAI plans to use the fresh funds to conduct research and development operations for its deep learning technology to democratize artificial intelligence.
The company’s unique platform allows businesses to increase the processing speed of deep learning tasks without the requirement of dedicated hardware. The firm also plans to use the finances to expand its workforce and invest in various computer resources.
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The CEO of ThirdAI, Anshumali Shrivastava, said, “When we looked at the landscape of deep learning, we saw that much of the technology was from the 1980s, and a majority of the market, some 80%, were using graphics processing units.”
He further added that they aim to change the traditional computing process that requires expensive hardware and engineers. The company has developed a solution that uses general-purpose central processing units to compute vast amounts of data quickly without the need for any additional graphic processing unit.
Shrivastava got this idea of deep learning when he was studying mathematics at Rice University. Houston-based startup ThirdAI was founded by Anshumali Shrivastava, Paul Holzhauer, and Tharun Medini on April 15th, 2021. It took over ten years for the researchers to develop ThirdAI’s unique deep learning technology.
The founder and managing partner of Neotribe Ventures, Swaroop Kolluri, said, “It is not just the computing, but the memory and ThirdAI will enable anyone to do it, which is going to be a game-changer. As technology around deep learning starts to get more sophisticated, there is no limit to what is possible.”
He also added that this technology is at a very early stage, and he invested in ThridAI as he believes that the company is capable of enhancing its deep learning tool further.