AI.Reverie secured $5.6M in Funding round led by Vulcan Capital


AI.Reverie, a Greater New York-based computer vision company has secured a $5.6 Million in the equity funding round.

Vulcan Capital led the latest funding round along Triphammer Partners, SGInnovate, In-Q-Tel, Compound, Resolute Ventures, and TechNexus Capital.

Founded in 2017, AI.Reverie offers simulation platform that trains Artificial Intelligence based algorithms to understand the world. To date, the company has raised a total of $10 M, according to the latest announcement.

Executive Opinion

Daeil Kim, the co-founder and CEO of AI.Reverie, said, “We have now seen our technology solve the real challenges of a broad client base. Our platform is fine-tuned and ready to grow.”

YB Choi, partner at Vulcan Capital and incoming board member of AI.Reverie, said, "Data is the driving force of value for computer vision, which is now mission-critical to many major industries, and synthetic data holds the potential to transform the way computer vision algorithms are trained. We look for companies that can bring disruptive technologies to extremely large markets and have seen AI.Reverie creates a more efficient and effective source of data. This company has captured the lead in a potentially explosive new field.”

AI.Reverie's Latest Funding

The company, as of now, intends to use newly raised funds for growth via product and talent expansion.

The company provides a synthetic data and vision Application Programming Interface (API) to help businesses across different sectors to improve their AI applications and train their algorithms so that together they make cities smarter, farms sustainable, tasks easier, life fuller, and home safer.

Post funding, YB Choi of the Vulcan Capital is joining AI.Reverie's Board of Directors, notes the announcement.

PC: Canva

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Udit Agarwal Opinions expressed by techsutram contributors are their own. More details

Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

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