Deeplite Inc., a Montreal, Canada-based AI optimization software startup, closed a $6m seed financing round.
The round was led by PJC with participation from Innospark Ventures, Differential Ventures, Ajay Shah, Executive Chairman, Smart Global Holding, and existing backers Somel Investments, BDC Capital and Desjardins Capital.
The company intends to use the funds to accelerate R&D development, expand the team and accelerate market expansion for its software.
Co-founded by Davis Sawyer, Ehsan Saboori and Nick Romano, Deeplite provides an optimization software to optimize DNN (Deep Neural Network) models and enable AI for edge computing on edge devices such as cameras, sensors, drones, phones and vehicles.
Incubated at TandemLaunch in Montreal, the company serves major OEM brands, semiconductor and application companies.