OPT-AI IN THE PRESS
Deci Raises $25M Series B to Accelerate the Productization of Real-World AI Applications
Tel Aviv, Israel, July 13, 2022 – Deci, the deep learning company harnessing AI to solve the AI efficiency gap, today announced it has raised $25 million in a Series B funding round led by global software investor Insight Partners, with participation from existing investors Square Peg, Emerge, Jibe Ventures, and Fort Ross Ventures, as well as new investor ICON. The investment comes just seven months after Deci secured $21 million in Series A funding, also led by Insight Partners, bringing Deci’s total funding to $55.1 million. The funds will be used to expand Deci’s go-to-market activities, as well as further accelerate the company’s R&D efforts.
Deep learning-powered advancements in AI have led to innovations that have the potential to revolutionize services, products, and consumer applications across industries such as medicine, manufacturing, transportation, communication, and retail. However, the AI efficiency gap – a situation in which hardware is unable to meet the increasing computing demands of models that are growing in size and complexity – has proven to be an obstacle to more widespread AI commercialization. This efficiency gap means that inference is still generally bound to the cloud, where compute hardware is abundant but costs are high and concerns around data privacy and safety are prevalent.