Bulgarian-founded deeptech startup LatticeFlow raises $12M in a Series A round
04 November, 2022, 17:06
Deeptech startup LatticeFlow has raised a $12 million Series A to expand the team and product portfolio. The round was co-led by Atlantic Bridge, OpenOcean, and existing investors btov Partners, and Global Founders Capital, TechCrunch informs.
- Founded in 2020 by AI scientists Petar Tsankov, Pavol Bielik, Martin Vechev, and Andreas Krause as a spin-off of Zurich’s ETH, LatticeFlow develops a platform that can auto-diagnose data and models, empowering ML teams to deliver robust and performant AI models faster.
- Currently, the company has more than 10 customers in Europe and the US, including a number of large companies like Siemens, and Swiss Federal Railways.
“If you only look at the data – and this is a fundamental differentiator for LatticeFlow because we not only find the standard data issues like labeling issues or poor-quality samples, but also model blind spots, which are the scenarios where the models are failing. Once the model is ready, we can take it, find various data model issues and help companies fix it,”Co-founder and CEO of LatticeFlow, Petar Tsankov comments.
- The round was led by Atlantic Bridge, the growth equity firm with a cross border value add strategy that invests in deep technology European companies, and the London-based OpenOcean, an early-stage venture capital firm investing in B2B software, with participation from FPV Ventures.
- Existing investors btov Partners and Global Founders Capital, which led the company’s $2.8 million seed round in 2022, also joined this round.
- The fresh round will be used to accelerate the development of the platform to automatically diagnose and fix data and model issues in computer vision, open an office in Sofia, and to expand the team.