AI startup Teraki announced it has raised $2.3 million in additional funding for its AI and edge data processing software. The latest backing for the technology platform comes from Hong Kong-based Horizons Ventures and American Family Ventures.
“Data-driven insights will be key to innovation in the automotive and automotive insurance sectors; as a result, capturing highly accurate information from cars is the basis needed to drive to these insights. Teraki aids in acquiring this information with the highest efficiency and accuracy rates. We are excited to support the growth of the company and its path towards enabling better insurance applications,” said Katelyn Johnson, Principal at American Family Ventures.
Teraki provides embedded, pre-processing software for sensor data. When embedded in automotive electronic systems, the software reportedly enables hardware to process more than 10 times more data without loss of information to train and run machine learning methods of customers. Teraki says its deterministic technology is compatible with AI and conforms to standards for safety-related applications.
The company also announced the launch of the Teraki DevCenter—a cloud-based data training and prototyping environment, allowing customers to train Teraki’s algorithms on their data.The DevCenter automates the process to provide development teams with the opportunity to quickly train Teraki’s machine learning algorithms based on their own data and to evaluate exactly what performance advantages Teraki’s technology can provide.
“With the DevCenter we have automated data training tasks, allowing development teams to test our solution with their own data more quickly,” said Markus Kopf, Teraki’s Co-Founder and CTO. “Automating this entire process is complex and difficult. For our current and future customers, this makes it much easier to experience for themselves what Teraki technology can do in terms of edge processing and performance improvements that can lower their hardware and data communication costs, improve their applications and algorithms, and create new possibilities in the automotive systems of tomorrow.”