Dataloop, a Tel Aviv, Israel-based platform for AI data management and annotation, raised $16m in funding.
- an $11m Series A round led by Amiti Ventures with participation from F2 Venture Capital, OurCrowd, NextLeap Ventures and SeedIL Ventures; and
- $5m seed round.
The company intends to use the funds to increase recruitment efforts and grow its presence in the US and European markets.
Founded in 2017 and led by Eran Shlomo, CEO, Dataloop provides a SaaS platform that combines human and machine intelligence to feed ‘real time’ data back to human counterparts while simultaneously streamlining the workflow with automated annotation tools. By leveraging humans, algorithms can create accurate predictions in less time, at scale and on budget, allowing organizations to deploy AI in production and focus on their core business for a range of verticals, including retail, agriculture and autonomous vehicles.
The company serves customers including Standard, Foresight Automotive, Descartes Labs, and Transenterix.