SOTAI Secures $2 Million in Seed Funding to Revolutionize Transparent and Accessible Artificial Intelligence
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LOS ANGELES, Calif., October 10, 2023-- SOTAI, a company with a vision to make artificial intelligence transparent and accessible to all, has announced the successful closure of a $2 million seed funding round. The round was led by Four Rivers, a venture capital firm renowned for its investments in cloud infrastructure and developer services.
SOTAI's mission is to address a pressing issue in the field of artificial intelligence and machine learning: the lack of transparency and control, which often hinders effective communication and trust-building with non-technical stakeholders. Factors such as complex performance metrics, real-world applications, stakeholder expectations, regulatory requirements, and the imperative need for explainability have presented significant challenges in the industry. SOTAI's innovative solution is designed to streamline the modeling process, resulting in models that are easy to train, constrain, and comprehend. The company also offers a complementary analysis and collaboration toolkit, making it effortless to share results and secure buy-in from stakeholders.
"We are thrilled to announce the successful completion of our seed funding round, which will accelerate our mission of democratizing artificial intelligence," said William Bakst, co-founder and CEO of SOTAI. "Our team is dedicated to bridging the gap between technical research and practical implementation by providing a user-friendly solution that promotes transparency, accountability, and collaboration in AI development."
The seed funding round was led by Four Rivers, a venture capital firm with a strong track record in supporting innovative technology startups. Dan Scholnick, General Partner at Four Rivers, expressed his confidence in SOTAI's vision and leadership, saying, "We are excited to partner with SOTAI in their journey to transform AI development. The need for transparent and comprehensible AI models is paramount in today's landscape, and SOTAI's innovative approach will undoubtedly make a significant impact."
"SOTAI is ushering in a new era where end users and data scientists can have confidence in AI models that are both effective and transparent," said Linus Meyer-Teruel, co-founder and CTO at SOTAI. "In a competitive landscape, our technology distinguishes itself as an innovative solution that empowers data scientists, ensuring they can harness the power of artificial intelligence with increased transparency and trust."
The company is co-founded by William Bakst and Linus Meyer-Teruel (Google AI) (Tensor Lattice Flow). The funding will be used to hire highly skilled individuals and to build and expand valuable partnerships with design firms, all of which are crucial steps in advancing SOTAI's mission. In addition to the funding news, SOTAI is pleased to announce the appointment of Guy Fighel and Christian Schagen as advisors.
SOTAI is at the vanguard of ensuring successful ML model launches. By blending robust, interpretable modeling techniques with superior analysis tooling, SOTAI facilitates the creation of ML models that are easily understood, controlled, and trusted by both technical and non-technical stakeholders. This approach not only ensures trustworthy predictions and model transparency but also provides intuitive tooling, thus eliminating the need for custom-built solutions. For more information go to: https://www.sotai.ai