Updated · Sep 29, 2022
Investors Fund AI Pioneer’s Start-Up
Updated · Feb 21, 2022
The founder of Google Brain, Andrew Ng raised $57 million for his start-up, Landing AI. Investors include Intel Corp. and Samsung Electronics Co. Ltd.
Andrew Ng founded Landing AI in 2017. The company launched a software platform, LandingLens, that lets manufacturers create their own AI systems for detecting product defects. It also aims to address the technical challenges that come with developing AI apps.
According to Ng, AI is surrounded by a lot of hype but is not as widely deployed as the media presents it to be. He claims that there are numerous manufacturing use cases that can benefit from machine learning.
The start-up aims to help the auto and electronics industries. Furthermore, it plans to integrate tech in the healthcare sector.
LandingAI’s investors include, but are not limited to Intel Capital, Samsung Catalyst Fund, Insight Partners, and also the Canadian Pension Plan Investment Board.
The managing director at Insight Partners, George Mathew said: “The opportunity and need for Landing AI is only exploding. It will unlock the untapped segment of targeted machine vision projects addressing quality, efficiency, and output. We’re looking forward to playing a role in the next phase of Landing AI’s exciting journey.”
Ng plans to use the money to double his team from 75 workers to around 150. In addition, he wants to reach new customers and “make everything go faster.”
Teodora devoted her whole life to words – reading, writing and trying to be original on social media. She got certified in digital marketing but still feels she’s not cool enough to be an influencer. (We all disagree – she influences the team pretty well.) She finished a master’s degree focused in Literature, Publishing, Mass Media. Her hobbies include traveling, and reading. Teddy hopes that yoga will be the thing to finally teach her some patience and show her the path toward world domination. Maybe modern tech can also help her with that.
Latest from Author
Your email address will not be published.