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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190213005777/en/