Peltarion Secures US$ 20M Series A Funding to Advance Humankind Through AI

Peltarion, the world leader in Operational AI, today announced US$20 million series A financing led by Euclidean Capital alongside existing investor FAM and EQT Ventures.

This latest round brings Peltarion’s total funding to US$ 34 million to date, including previous investment from FAM, the holding company privately owned by the three largest Wallenberg foundations, and EQT Ventures.

Peltarion’s mission is to make AI technology useable and affordable for governments, not-profits and businesses alike. It believes that making AI operational will help to solve world problems - from food distribution to disease diagnostics - more quickly and at scale. The Peltarion Operational AI platform makes building and deploying AI products and services easier, faster and more affordable. Its API approach creates an enterprise-ready solution, lowering the bar of hard-to-find AI skills required to build AI products and services, while reducing the need for expensive infrastructure.

“AI is a technology that everyone should benefit from. Our mission is to make AI technology useable and affordable for all and this investment will help us to grow and scale in order to do more good in the world.” comments Luka Crnkovic-Friis, CEO and co-founder of Peltarion.

Peltarion has built strong momentum over the past twelve months, onboarding clients from a variety of different countries and focus areas - from the media industry through to finance and healthcare. Many of these solutions are already helping to make a difference in the world, particularly in relation to: cancer tumor segmentation, skin cancer detection, agriculture yield optimization, DNA prediction and energy.

In 2018, Peltarion founded the Swedish AI council, to establishing a continuous dialogue between Industry, Academia, Swedish Government and EU. The company has also built several technical and service partnership agreements with, including:

• Sopra Steria
• Bearingpoint
• Silo.AI
• Fourkind
• Neiron
• Avaus

About Peltarion

Peltarion provides a collaborative, graphical cloud platform for developing, managing and deploying deep learning systems at scale. It’s designed for use, so it’s got everything you need to execute an AI project from start to finish in a single software platform.

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. Our mission is to make AI technology usable and affordable for all.

Find out more at www.peltarion.com.

High resolution picture of Luka Crnkovic-Friis, CEO and co-founder of Peltarion can be found here.

Logos and further information about Peltarion can be found via our press kit available on our website here.

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Contact information

Nordics
Kye Andersson, Head of Brand & Communication
+46 790 23 23 23, kye@peltarion.com

United Kingdom
Cathy O’Neill, Associate Director, Spark Communications
+44 0 7436 0420, peltarion@sparkcomms.co.uk

USA
LeAnne Schrotzberger, Senior PR Consultant, Waters Communications
+1 503 201 4783, leanne@waterscomms.com