AI model optimization startup Deci raises $21M
Summary
Gartner predicts that — if the current trend holds — 80% of AI projects will remain “alchemy,” run by “[data science] wizards” whose talents “will not scale in the organization.” Deci was cofounded in 2019 by Geifman, Ran El-Yaniv, and entrepreneur Jonathan Elial. By utilizing an algorithmic-first approach, we focus on improving the efficacy of AI algorithms, thus delivering models that outperform the advantages of any other hardware or software optimization technology,” Geifman told VentureBeat via email. “Such models empower developers with what’s required to transform their ideas into revolutionary products.” The thirty-employee company, Deci, recently announced a strategic collaboration with Intel to optimize AI inference on the chipmaker’s CPUs. In addition to Intel, the startup says that “many” companies in autonomous vehicle, manufacturing, communication, video and image editing, and health care have adopted the Deci platform. “This issue can largely be attributed to difficulties navigating the cumbersome deep learning lifecycle given that new features and use cases are stymied by limited hardware availability, slow and ineffective models, wasted time during development cycles, and financial barriers.