Swim.ai raises $10M to bring real-time analytics to the edge –
Summary
Among those is Swim.ai, which today announced that it has raised a $10 million Series B funding round led by Cambridge Innovation Capital, with participation from Silver Creek Ventures and Harris Barton Asset Management. In a traditional approach, the edge devices collect the data, maybe perform some basic operations against the data to bring down the bandwidth cost and then ship it to the cloud where the hard work is done and where, if you are doing machine learning, the models are trained. “Demand for the EDX software is rapidly increasing, driven by our software’s unique ability to analyze and reduce data, share new insights instantly peer-to-peer – locally at the ‘edge’ on existing equipment. Efficiently processing edge data and enabling insights to be easily created and delivered with the lowest latency are critical needs for any organization,” said Rusty Cumpston, co-founder and CEO of Swim.ai. “We are thrilled to partner with our new and existing investors who share our vision and look forward to shaping the future of real-time analytics at the edge.” The company doesn’t disclose any current customers, but it is focusing its efforts on manufacturers, service providers and smart city solutions.