Artificial intelligence (AI) continues to find applications in almost every industry. However, not every company that can benefit from AI knows how to create custom systems. Startups often thrive in environments just like this.
By offering a service that solves a pain point and gives companies access to a helpful solution, startups are able to carve out a new niche within existing markets.
That’s exactly what InfuseAI does. The Taiwan-based startup has created a machine learning operations (MLOps) platform that helps third-party companies build custom AI applications. It recently announced a Series A funding round of $4.3 million according to TechCrunch.
InfuseAI will use its latest funding to gain an early foothold in the MLOps space. It anticipates that the global market will be worth $4 billion by 2025. By establishing itself early on, InfuseAI will be poised to compete once others enter the space.
For those not in touch with the AI sector, it can be difficult to comprehend everything that an MLOps company does. Essentially, startups like InfuseAI help other firms deploy machine learning technology without the backend work. This allows them to focus on their day-to-day operations while harnessing the benefits of AI.
For instance, the startup’s PrimeHub platform includes a suite of tools for companies to use, TechCrunch notes. The platform consists of a model training environment, cloud computing tools, and collaboration features.
As noted, despite the power of AI, many users aren’t ready to handle the technical aspect of it. Working with a company like InfuseAI removes those barriers.
In a statement, Hive Ventures (a leading participant in the startup’s funding round) founder Yan Lee says, “As enterprises from manufacturing, healthcare, finance, and other sectors seek to scale their AI operations and model deployments, they will require a platform like InfuseAI to allow seamless collaboration between developers and data scientists.”
“InfuseAI fits perfectly into our investment thesis which is focused on platforms and software in the enterprise adoption cycle,” Lee adds.
The startup’s $4.3 million boost comes from a variety of participating firms. As mentioned, Hive Ventures was a noteworthy investor. However, the Series A round was led by Wistron Corporation. That’s a big name in the manufacturing space and could turn into more than an investment partnership down the road.
Meanwhile, Top Taiwan Venture Capital Group and Silicon Valley Taiwan Investments also took part in the round.
It will be interesting to see how InfuseAI uses its new funding. Although it certainly isn’t a huge amount, it should be enough to get the startup off the ground. Over time, it will likely need to raise additional capital to expand into markets outside of Taiwan and to scale its platforms for larger customers.
Regardless, InfuseAI is a company to keep an eye on as machine learning technology becomes more popular in almost every sector.