- Parabolic Arc
- March 24, 2023
Synthetaic Secures $13M Series A Financing to RAIC the World
DELAFIELD, Wis. (Synthetaic PR) — Synthetaic, the end-to-end AI company, announced today that it had closed a $13M Series A financing 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 groundbreaking RAIC platform and continue establishing strategic partnerships to analyze some of the world’s most important data sets. Lupa Systems’ Ben FitzGerald has also joined Synthetaic’s Board of Directors.
Synthetaic provides organizations with an end-to-end pipeline for AI-enabled solutions without the traditional dependency on human labeled data, thereby allowing for AI insights in minutes instead of after 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, multidimensional imagery datasets, and allows both experts and non-experts to build and run detection AI models in minutes.
“The Synthetaic team has unlocked something very important with their RAIC technology,” said Ben FitzGerald at Lupa Systems. “Organizations from defense to climate change to conservation need the ability to analyze data instantly and build new AI models just as fast. The current state of the art where AI models are trained from hand labeled data is expensive, time consuming, and increasingly outdated. This is the only team we’ve met with the vision and technical talent to create a scalable alternative.”
By leveraging RAIC and their end-to-end AI pipeline, Synthetic is able to solve AI’s underlying data problem. Synthetaic’s platform can rapidly train and deploy AI models that outperform the speed and accuracy of traditional approaches, building models in mere minutes that are on par with state of the art hand-labeled models.
“The fact is that all of the AI being developed today are data hungry,” says Corey Jaskolski, Synthetaic Founder and CEO. “Feeding AI with high-quality, labeled data, whether you are working in a data rich or data sparse environment is a huge challenge. It’s expensive and time-consuming, and the number one thing keeping us from applying AI more widely and more efficiently. Our platform solves that problem to help fasttrack the world’s transition to practical AI.”
Synthetaic has partnered with a number of organizations across industries, including healthcare, geospatial AI, security, and conservation. The company has 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 rapidly extract key insights from geospatial data; and National Geographic to help identify and track rare species to safeguard against poaching.
The Series A financing will help Synthetaic grow its team and scale its cloud and generative AI technologies which fuel RAIC. The company will also leverage these funds to support strategic technology partnerships currently underway and in their pipeline. The $13M Series A round brings Synthetaic’s total amount raised to $17.5M.
Synthetaic is currently hiring engineers and developers who have experience in applied machine learning and data science. The company is interested in hiring from both academia and industry to grow their team and ensure that Synthetaic continues to lead synthetic data generation and unique AI model development.
Synthetaic recently moved into a new office in downtown Delafield to accommodate their 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 high-performing AI solutions in minutes, not months.
Our flagship technology, RAIC (Rapid Automatic Image Categorization), eliminates the need for time-intensive human labeling or expensive labeled data troves. By automating the analysis of large, unstructured, multidimensional datasets, RAIC offers instant detection of anything, at scale.
Synthetaic combines unsupervised and generative synthetic data with our end-to-end AI pipeline to rapidly train and deploy AI models that outperform 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 https://www.synthetaic.com