Sweden-based Peltarion has announced a $20 million series A financing.
The financing was led by Euclidean Capital, the family office for hedge fund billionaire James Simons, and prior backers FAM and EQT Ventures.
This latest round brings Peltarion’s total funding to $34 million to date.
Peltarion’s mission is to make AI technology useable and affordable for governments, nonprofits and businesses alike. It believes that making AI operational will help to solve world problems — from food distribution to disease diagnostics — more quickly and at scale. The Peltarion Operational AI platform makes building and deploying AI products and services easier, faster and more affordable. Its API approach creates an enterprise-ready solution, lowering the bar of hard-to-find AI skills required to build AI products and services, while reducing the need for expensive infrastructure.