Guggenheim Investments is leading the round with JVP and Kindred Capital also contributing. Rezilion said that unnamed executives from Google, Microsoft, CrowdStrike, IBM, Cisco, PayPal, JP Morgan Chase, Nasdaq, eBay, Symantec, RedHat, RSA and Tenable are also in the round. Previously, the company had raised $8 million.
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China’s ongoing anti-monopoly campaign is part of a larger global push by regulators against big tech, and will reinforce a shift among venture investors in the country toward enterprise and deep technology companies, according to a member of the Forbes Midas List ranking of the world’s top venture capitalists.
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Siga OT Solutions, an Israeli cybersecurity startup that helps organizations secure their operations by monitoring the raw electric signals of critical industrial assets, has raised $8.1 million in Series B funding.
Siga’s SigaGuard says its technology, used by Israel’s critical water facilities and the New York Power Authority, is unique in that rather than monitoring the operational network, it uses machine learning and predictive analysis to “listen” to Level 0 signals. These are typically made up of components and sensors that receive electrical signals, rather than protocols or data packets that can be manipulated by hackers.
By monitoring Level 0, which Siga describes as the “richest and most reliable level of process data within any operational environment,” the company can detect cyberattacks on the most critical and vulnerable physical assets of national infrastructures. This, it claims, ensures operational resiliency even when hackers are successful in manipulating the logic of industrial control system (ICS) controllers.
Amir Samoiloff, co-founder and CEO of Siga, says: “Level 0 is becoming the major axis in the resilience and integrity of critical national infrastructures worldwide and securing this level will become a major element in control systems in the coming years.”
The company’s latest round of funding — led by PureTerra Ventures, with investment from Israeli venture fund SIBF, Moore Capital, and Phoenix Contact — comes amid an escalation in attacks against operational infrastructure. Israel’s water infrastructure was hit by three known cyberattacks in 2020 and these were followed by an attack on the water system of a city in Florida that saw hackers briefly increase the amount of sodium hydroxide in Oldsmar’s water treatment system.
The $8.1 million investment lands three years after the startup secured $3.5 million in Series A funding. The company said it will use the funding to accelerate its sales and strategic collaborations internationally, with a focus on North America, Europe, Asia, and the United Arab Emirates.
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Ferrari, the legendary Italian sports car builder with some 239 race victories in Formula 1, has signed a deal with Amazon Web Services (AWS) to bolster the performance and design of its exotic racing and street cars by taking advantage of the global computing power of the AWS cloud.
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Four months after taking over the reins of Intel Corp., CEO Pat Gelsinger has announced a string of executive leadership changes as he works to shake things up inside a company that leads its marketplace but could use a boost in energy.
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Putting together an AI infrastructure from scratch is far from an easy task for curious enterprises that are looking to bring AI into their operations and strategies. AI is complicated, expensive and often there are far more questions than answers when trying to figure it all out.
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Making machine learning easier to use is all the rage in enterprise computing as more and more businesses are finding out that adopting and integrating AI is harder to do than they first anticipated. HPE, like other large technology vendors, has been hearing that message from customers and in response, has acquired Determined AI, a San Francisco-based startup that built an open source machine learning training platform that is designed to make the process faster and simpler.
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Since 2018, Fiddler AI has been working to make AI easier to use for enterprises by making the mysteries under the hood more approachable and simpler to understand by users. And now, armed with $32 million in new Series B funding from investors led by Insight Partners, Fiddler AI is looking to expand and build out its machine learning model performance management platform to bring its services to a broader group of customers.
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AI is being used by enterprises to solve major business problems, yet still struggle with effectively deploying and maintaining those algorithms in what is often called the “last mile” of the AI journey. ModelOps, which operationalizes AI models, has been gaining traction to effectively automate the rollout and maintenance of AI, carrying it across the finish line and ensuring that it continues to improve and increase in value.
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The Offshore Robotics for the Certification of Assets (ORCA) Hub is a research programme developing Robotics, AI, and Autonomous Systems for the offshore sector. Recently, the ORCA Hub secured £2.5 million in funding from UK Research & Innovation (UKRI).
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In December of 2020, LG quietly launched an LG AI Research division in South Korea to develop new kinds of AI technologies that can bring increased value and intriguing services to consumer and business customers around the world. LG AI Research was created with $180 million ($200 billion Korean won) in funding over three years for research and development and staff to take on the initiative.
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With demands for AI, hybrid cloud and quantum computing expanding daily, IBM is joining an initiative to build a Discovery Accelerator Institute at the University of Illinois at Champaign-Urbana to drive new research and innovations in some of the fastest-growing fields of study. The collaboration also includes the State of Illinois in what is planned as a $200 million, 10-year initiative to erect a building and facilities for the new institute as well as increase access to technology education and skills development at the school.
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Nearly two-thirds of C-level AI leaders can’t explain how specific AI model decisions or predictions are made, according to a new survey on AI ethics by credit report and analytics software vendor, FICO, which says there is room for improvement. Knowing exactly how AI model decisions and predictions are made is important to determine and chart a company’s AI use and ethics policies and procedures.
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In the wake of the news that UK-based AI startup Faculty has raised $42.5 million in a growth funding round, I teased out more from CEO and co-founder Marc Warner on what his plans are for the company.
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Entrepreneurs and investors regularly dismiss claims that artificial intelligence will replace people in the workplace. AI needs humans to function, they say, and AI doesn’t want to take the place of workers. This response rings hollow to critics, however, because the assumption remains that humans become an afterthought once leaders broadly deploy AI within an organization. And nobody, critics argue, should lead or invest in a business that puts people second.
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Unveiled at the company’s Google I/O virtual conference on May 18 (Tuesday), Vertex AI uses almost 80 percent fewer lines of code to train a model compared to competing platforms, according to Google. The platform is also built to serve data scientists and ML engineers so they can use it to implement and manage machine learning operations (MLOps) for their projects.
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That’s the conclusion of a new “Global AI Adoption Index 2021” report from IBM’s Institute for Business Value and the IBM Watson business unit that includes input on AI plans and challenges from some 5,501 business decision-makers in 15 markets around the world. The report was released May 11 (Tuesday) as part of IBM’s Think 2021 virtual conference. The 13-page report, which was conducted by market research firm Morning Consult for IBM, found that about one-third of the respondents reported that their companies are using AI, while 43 percent said their companies accelerated their rollouts of the technology due to the pandemic.
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Torch.AI is bringing in $27 million in state tax incentives from Kansas to expand its operations in a suburb of Kansas City. The fresh cash influx comes less than two months after the company secured $30 million in new Series A funding that is also aimed at growing its business.
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Data annotation and labeling startup Scale AI is taking in another $325 million in new investment, this time through a Series E round. The new funding round was co-led by Dragoneer, Greenoaks Capital and Tiger Global, and included new investors Wellington Management and Durable Capital. Several previous investors, including Coatue, Index, Founders Fund and YC, were also involved, according to the company.
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With the recent release of its IBM Cloud Pak for Data, IBM is quickly expanding the tools it offers to enterprise customers that want to put their workloads onto IBM’s Cloud Satellite. The IBM Cloud Pak for Data, which became generally available to customers on March 26, is the first major add-on for Cloud Satellite since the nascent service was launched on March 1.
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