ZURICH— LatticeFlow, the first AI platform to automatically detect and correct AI data and model flaws, has announced a USD 12 million Series A fundraising round. The investment will allow LatticeFlow to extend its platform’s capabilities and respond to rising customer demand as more organizations, including several Fortune 500 clients such as Siemens Mobility and AI scaleups such as Intenseye, Voxel AI, and Carscan, implement computer vision models at scale.
Atlantic Bridge and OpenOcean led the USD 14.8 million investment in the award-winning ETH Zurich spin-off, with participation from FPV Ventures and previous investors btov Partners and Global Founders Capital. Because of the fast use of computer vision in the industrial, healthcare, retail, security, and safety industries, which are digitizing processes to become more data-driven, the potential addressable market for computer vision is significant.
In the lab, computer vision AI models have recently achieved human-level performance in picture categorization, detection, and other tasks. However, when models are implemented in production, they frequently fail to perform as intended because real-world scenarios are significantly more complicated and variable than lab training datasets. As a result, 90% of all models are never produced, resulting in billions of dollars in losses.
Petar Tsankov, Co-founder and CEO of LatticeFlow:
“LatticeFlow is an enabling technology that enables engineers and businesses to offer high-quality data and performant computer vision models that operate in practice; as data and models grow in size, creating AI models that perform in the wild becomes an unwinnable war. As a result, we designed the first smart platform that allows engineers to do this task, solving a significant pain point.”
Katerina Almasque, General Partner at OpenOcean:
“If there’s one organization that can finally make machine learning deployments at scale possible, it’s LatticeFlow’s team. We were blown away by their impressive academic credentials from ETH Zurich and their history as serial entrepreneurs.”
More about the company:
LatticeFlow is an award-winning ETH Zurich spin-off created in 2020 by an internationally known team of AI professionals to bring AI to life. To accomplish this goal, the business made the first scalable platform for automatically diagnosing and correcting data and model errors, removing a significant impediment to the widespread use of AI. Customers of LatticeFlow include Fortune 500 firms like Siemens Mobility, as well as AI scaleups like Intenseye, Voxel AI, and Carscan. In 2022, the firm was named to the renowned CB Insights AI100 List of Most Innovative AI Companies and earned the Swiss AI Award and the US Army Global AI Award.
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