Peltarion secures $13M in investment funding from FAM and EQT Ventures.
Peltarion, a Stockholm, Sweden-based company working on a technology based on deep learning artificial intelligence, announced raising €11M ($13.2M) in capital investment.
Peltarion, founded in 2014 by Måns Erlandsson and Luka Crnkovic-Friis (CEO), developed a collaborative, graphical cloud platform for developing, managing and deploying deep learning systems at scale. The company claims to have worked with more than 300 customers, including NASA, Tesla, General Electric, Dell or BMW. According to the Swedish official data, the company is yet to record revenues, with losses of about SEK 3M ($350k).
Prior to this transaction, Peltarion added $3.5M in capital funding from EQT Ventures at the end of 2016.