Synthetaic Secures $13M in Series A Funding for IRAC Worldwide – Parabolic Arc
DELAFIELD, Wis. (Synthetaic PR) – Synthetaic, the end-to-end AI company, today announced that it has closed a $13 million Series A funding round led by Lupa Systems and with participation from TitleTown Tech , Betaworks, Booz Allen Hamilton, and Esri. The money will be used to scale Synthetaic’s revolutionary IRAC platform and continue to build strategic partnerships to analyze some of the world’s most important datasets. Ben FitzGerald of Lupa Systems has also joined Synthetaic’s board of directors.
Synthetaic provides organizations with an end-to-end pipeline for AI-enabled solutions without the traditional reliance on human-labeled data, enabling AI insights in minutes instead of months of human annotation . Synthetaic’s flagship technology, RAIC (Rapid Automatic Image Categorization) enables rapid object labeling, AI modeling and solution deployment by analyzing large sets of multi-dimensional imagery data, and empowers experts and non-experts to create and run detection AI models in minutes.
“The Synthetaic team has unlocked something very important with their RAIC technology,” said Ben FitzGerald of Lupa Systems. “Organizations from defense to climate change to conservation need the ability to analyze data instantly and create new AI models just as quickly. The current state of the art where AI models are trained from hand-labeled data is expensive, time-consuming, and increasingly outdated. They’re the only team we’ve come across with the vision and technical talent to create a scalable alternative.
By leveraging RAIC and its end-to-end AI pipeline, Synthetic is able to solve the underlying data problem of AI. Synthetaic’s platform can rapidly train and deploy AI models that surpass the speed and accuracy of traditional approaches, building models in minutes that are on par with state-of-the-art hand-labeled models.
“The fact is, all AI developed today is data-intensive,” says Corey Jaskolski, founder and CEO of Synthetaic. “Feeding AI with high-quality labeled data, whether you’re working in a data-rich or data-poor environment, is a huge challenge. It’s expensive and time-consuming, and it’s the number one thing holding us back from applying AI more widely and more effectively. Our platform solves this problem to help accelerate the global transition to practical AI. »
Synthetaic has partnered with a number of organizations across all sectors, including healthcare, geospatial AI, security and conservation. The company worked with Climate TRACE to identify CAFOs to estimate methane emissions; Michigan Medicine at the University of Michigan to classify rare brain tumors; the US Air Force to quickly extract key insights from geospatial data; and National Geographic to help identify and track rare species to guard against poaching.
The Series A funding will help Synthetaic grow its team and scale its cloud and generative AI technologies that power RAIC. The company will also leverage these funds to support strategic technology partnerships currently underway and in their pipeline. The $13 million Series A round brings Synthetaic’s total to $17.5 million.
Synthetaic is currently recruiting engineers and developers who have experience in applied machine learning and data science. The company is looking to hire both in academia and industry to grow its team and ensure that Synthetaic continues to lead the generation of synthetic data and the development of unique AI models.
Synthetaic recently moved to a new office in downtown Delafield to accommodate its growing team. To learn more about Synthetaic, visit www.synthetaic.com. To get in touch regarding open positions, please contact [email protected]
Synthetaic is the end-to-end AI company. We build powerful AI solutions in minutes, not months.
Our flagship technology, RAIC (Rapid Automatic Image Categorization), eliminates the need for time-consuming human tagging or expensive tagged troves of data. By automating the analysis of large, unstructured and multidimensional datasets, RAIC provides instantaneous detection of everything, at scale.
Synthetaic combines unsupervised and generative synthetic data with our end-to-end AI pipeline to rapidly train and deploy AI models that surpass the speed and accuracy of traditional approaches. Our solutions have been applied to critical use cases across industries including healthcare, geospatial AI, security and conservation.
To learn more, please visit http://www.synthetaic.com