On March 26, 2024, the artificial intelligence database provider headquartered in Mountain View, California, USA Activeloop announced it has raised $11 million in Series A funding, led by Streamlined Ventures, with participation from Y Combinator, Samsung Next, Alumni Ventures, and Dispersion Capital.
The company plans to use the raised funds to bring more enterprise customers onto its AI database and hire more employees to expand its engineering team.
Activeloop was founded in 2018. The company created a specialized database called Deep Lake, designed to simplify the input of unstructured information (such as audio, video, images, text files, and embeddings) into machine learning and large language models. It also provides data storage and knowledge retrieval functions for managing complex datasets for AI.
(News source:SiliconANGLE）