Peltarion, a Stockholm, Sweden-based Operational AI startup, closed a US$20m Series A financing.
The round, which brought total funding raised to date to US$ 34m, was led by Euclidean Capital with participation from existing investor FAM and EQT Ventures.
The company intends to use the funds to grow and scale.
Led by Luka Crnkovic-Friis, CEO and co-founder, Peltarion provides a collaborative, graphical cloud platform for developing, managing and deploying deep learning systems at scale.
Founded in 2004, over 300 companies and organizations have used Peltarion’s AI technology including NASA, Tesla, iZettle, General Electric, Dell, BMW, Deutsche Bank, Lloyds Banking Group, and the Universities of Harvard, MIT and Oxford.
In 2018, the company founded the Swedish AI council, to establishing a continuous dialogue between Industry, Academia, Swedish Government and EU and has built several technical and service partnership agreements with, including:
– Sopra Steria