LatticeFlow has secured 12 million US dollars of venture capital in a series A funding round. According to a press release, the spin-off from the Swiss Federal Institute of Technology Zurich is developing the first scalable artificial intelligence platform to automatically diagnose and fix data and model issues in computer vision. Co-founder and CEO Petar Tsankov comments: “We developed LatticeFlow because we knew the impossible task that engineers were up against with the pain-staking, manual process of fixing data and model issues to create AI models that work in the real world.”
LatticeFlow states that over recent years, AI models have surpassed the performance of humans with regard to image classification and detection. However, the models often do not work as intended when used in production as real scenarios are commonly more complex than lab training datasets. For this reason, 90 percent of all models are never used. This results in billions of losses.
Ekaterina Almasque, General Partner of one of the investors, OpenOcean, stated: “If there’s one group that can make machine learning deployments at scale finally happen, it’s LatticeFlow’s team.” This is also the reason why the venture capital company Atlantic Bridge, which led this funding round, “so unambiguously reached the decision to invest in LatticeFlow,” according to Operating Partner Sunir Kapoor. He adds: “We believe that the company is poised for tremendous growth.”
Related news
Meet with an expansion expert
Our services are free of charge and include:
- Introduction to key contacts in industry, academia, and government
- Advice on regulatory framework, taxes, labor, market, and setting up a company
- Custom-made fact-finding visits, including office and co-working space