Top AI startup news of the week: InstaDeep, DeepL, Pachyderm and more
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This week, there were some key start-up acquisitions in the AI space (in ML decision-making and AI translation), as well as new funding in a variety of sectors as diverse as conversational AI, enterprise workflows, and land-based aquaculture.
Here are six companies that made headlines:
1. BioNTech acquires drug discovery ML startup InstaDeepGerman biotech company BioNTech, best known for the Pfizer-BioNTech COVID-19 vaccine, is to acquire British company InstaDeep, for up to £562m (~$680m). BioNTech was already partnered with Instadeep, which, according to its website, “provides AI-based decision-making systems for the enterprise.”
“Our goal with the acquisition is to integrate AI seamlessly into all aspects of our work – from target discovery, lead discoveries, to the manufacturing and delivery of our products,” BioNTech co-founder and chief executive Ugur Sahin told J.P. Morgan. health care conference on Tuesday, according to Reuters.
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look here 2. DeepL targets AI translation for enterprises with fresh $100 millionSeeking to target enterprise customers with AI language translation, Cologne, Germany-based DeepL announced a new funding boost that public reports estimate at more than $100 million.
Basic language translation features have been available for decades, for example services like Google Translate. But the challenge has been enabling more advanced translation for business use cases that not only captures the literal meaning, but also the appropriate tone and context. This is an area where AI-powered language translation is starting to have an impact.
DeepL was launched in 2017 and has steadily advanced its technology with deep neural networks. The new funding brings the company's valuation to over $1 billion. The company has not made public the total collected.
3. HPE acquires Pachyderm to boost AI developmentHewlett Packard Enterprise (HPE) has acquired private open source vendor Pachyderm to enhance artificial intelligence (AI) development capabilities and enable reproducible AI at scale.
San Francisco-based Pachyderm was founded in 2014 and has raised $28 million in funding to date. The financial terms of the acquisition are not made public.
Pachyderm develops open source technology for data pipelines used to enable machine learning (ML) operations workflows. With Pachyderm, users can also define data transformation on how source data should be manipulated and configured so that it is optimized for AI. The entire data pipeline approach is set up in a way that makes it easily repeatable, so it's easier for data scientists to understand how the data that feeds a model is collected and used.
Check out all the Smart Security Summit on-demand sessions here.
This week, there were some key start-up acquisitions in the AI space (in ML decision-making and AI translation), as well as new funding in a variety of sectors as diverse as conversational AI, enterprise workflows, and land-based aquaculture.
Here are six companies that made headlines:
1. BioNTech acquires drug discovery ML startup InstaDeepGerman biotech company BioNTech, best known for the Pfizer-BioNTech COVID-19 vaccine, is to acquire British company InstaDeep, for up to £562m (~$680m). BioNTech was already partnered with Instadeep, which, according to its website, “provides AI-based decision-making systems for the enterprise.”
“Our goal with the acquisition is to integrate AI seamlessly into all aspects of our work – from target discovery, lead discoveries, to the manufacturing and delivery of our products,” BioNTech co-founder and chief executive Ugur Sahin told J.P. Morgan. health care conference on Tuesday, according to Reuters.
EventOn-Demand Smart Security Summit
Learn about the essential role of AI and ML in cybersecurity and industry-specific case studies. Watch the on-demand sessions today.
look here 2. DeepL targets AI translation for enterprises with fresh $100 millionSeeking to target enterprise customers with AI language translation, Cologne, Germany-based DeepL announced a new funding boost that public reports estimate at more than $100 million.
Basic language translation features have been available for decades, for example services like Google Translate. But the challenge has been enabling more advanced translation for business use cases that not only captures the literal meaning, but also the appropriate tone and context. This is an area where AI-powered language translation is starting to have an impact.
DeepL was launched in 2017 and has steadily advanced its technology with deep neural networks. The new funding brings the company's valuation to over $1 billion. The company has not made public the total collected.
3. HPE acquires Pachyderm to boost AI developmentHewlett Packard Enterprise (HPE) has acquired private open source vendor Pachyderm to enhance artificial intelligence (AI) development capabilities and enable reproducible AI at scale.
San Francisco-based Pachyderm was founded in 2014 and has raised $28 million in funding to date. The financial terms of the acquisition are not made public.
Pachyderm develops open source technology for data pipelines used to enable machine learning (ML) operations workflows. With Pachyderm, users can also define data transformation on how source data should be manipulated and configured so that it is optimized for AI. The entire data pipeline approach is set up in a way that makes it easily repeatable, so it's easier for data scientists to understand how the data that feeds a model is collected and used.
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