AI startup BeyondMinds secured $15 Million in funding


BeyondMinds, an Israeli AI startup developing AI solutions, has now secured $15 million in funding.

BeyondMinds is founded by Rotem Alaluf in the year 2018. It is expanding and its wide-range adoption of AI by enabling companies to use Artificial Intelligence (AI) to proceed and work beyond the theoretical proof of concept exercises to resilient deployments.

Its AI platform is built on a modular technology stack that helps the customization of specific AI applications, which includes predictive maintenance and defect detection in various industries which includes insurance claim automation, manufacturing, risk assessment, fraud detection, underwriting in the financial services industry, etc.

Executive Opinion

Rotem Alaluf, the 30-year-old co-founder and CEO of BeyondMinds, said, "We are achieving wide-market adoption with a relentless focus on production. We are excited by the breakthroughs being made on the academic level and have created an enterprise grade, scalable AI architecture to ensure production systems deliver business value from day one through day forever".

Ophir Shoham, former Director of Defense R&D Directorate at the Israeli Ministry of Defense (MAFAT) who co-led the round on behalf of Marius Nacht, said, "We are happy to join and help the exceptional team at BeyondMinds to scale their business, and are excited to see how their innovative AI technology, groundbreaking approach, and vision positively influence companies throughout their AI transformation. BeyondMinds will help scores of companies attain the promise of AI, strengthen their business models, and dominate their categories."

BeyondMinds' Latest Funding

The round was backed by a private investor, Marius Nacht and Grove Ventures.

The company as of now has plans to use the new funds for the expansion and ongoing development of its AI solution. The funds will also help the company to strengthen its management team with some of the major executives to support the adoption of AI in US markets, notes the announcement.

The company offers its AI services to Microsoft, Samsung, KPMG, other defense industry, and financial industry players. The company intends to launch its AI-as-a-Service offerings to help fortune 1000 companies with the launch and maintenance of their AI infrastructure.
PC: Pablo, Pixabay

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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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