London, UK – 17 January 2024: SKY ENGINE AI has raised its Series A round to help tech companies improve computer vision with Synthetic Data Cloud for AI developers. SKY ENGINE AI is a simulation and deep learning platform that generates fully annotated, multimodal synthetic data, provides advanced domain adaptation methods and trains AI computer vision algorithms at scale. It is a tool for data scientists, ML/software engineers creating computer vision projects in any industry.
Access, quantity and quality of data covering edge cases for computer vision models is an expensive, time-consuming challenge for companies that rely on it to train and validate their AI models. As a result, progress in the industries including robotics, automotive or manufacturing can be limited.
This is where SKY ENGINE AI helps companies like Renault, Scania, Ericsson, Samsung or Syngenta release the bottleneck and bring the full potential of vision AI to the market faster. SKY ENGINE AI’s technology enables production of smarter and more accurate AI models, and offers improved project economics, all without requiring developers to leave their desks to gather relevant data, especially for edge cases. By 2024, Gartner predicts 60% of data used for these projects will be synthetic – rising to 95% by 2030.
SKY ENGINE AI has enjoyed a successful 18 months, during which it raised $7m Series A and tripled its revenues, despite challenging economic headwinds. The company scaled with over 40 people, support from top tech partners Nvidia and Microsoft.
The round was led by Cogito Capital Partners who recently exited Applica.ai to Snowflake with participation from other new investors: Edge VC who earlier funded Delta DNA/Unity Technologies, a well-known gaming engine, renowned Taiwania Capital a bellwether VC in Taiwan that previously backed Landing AI of famous machine learning pioneer Andrew Ng.
- Dr Bartek Wlodarczyk, CEO and Founder of SKY ENGINE AI:
“The pedigree of our investors speaks for itself: their experiences in scaling businesses that focus on vision AI will be indispensable at a time where similarly synthetic data is bringing so much immediate value in the real world. SKY ENGINE AI’ mission is to augment deep learning teams to create AI models that generalize better against unknown real-world data and with reduced algorithmic biases”
- Mitch Yang, Managing Partner of Taiwania Capital CEE Fund
“Addressing a critical challenge in machine learning, SKY ENGINE AI’s synthetic data solution stands out. This new partnership strategically aligns with Taiwania Capital’s investment thesis. We expect it to engender synergies in Smart Manufacturing and Industrial IoT in Taiwan and Asia.”