aiXplain Raises $8M in Seed Funding to Accelerate AI Solutions Development

No-code/low-code platform enables any company to quickly build robust AI applications to compete in the automation economy

SAN JOSE, Calif., April 26, 2023 /PRNewswire/ -- aiXplain, the industry's first no-code/low-code integrated AI development platform, announced today that it has raised $8 million in seed funding led by Transform VC and Calibrate Ventures.

aiXplain is the industry's first end-to-end integrated platform for quick development and delivery of AI projects. aiXplain's no-code/low-code integrated development environment (IDE) enables users to develop, manage, benchmark, experiment and one-click deploy AI assets. Initially attracted to the platform's ease of use and ability to increase speed-to-delivery for AI projects, aiXplain customers create more advanced applications by accessing a large and growing number of AI assets in data, models, pipelines and benchmarks. Through the aiXplain marketplace, users can access aiXplain's own as well as third-party assets from OpenAI, Google, AWS, Azure and dozens of other AI technology providers.

"Today, the hardest part of delivering business-altering AI is bringing everything together: data preparation, model training, benchmarking, and deployment all involve different skill sets, diverse tools, and multiple groups," said Hassan Sawaf, CEO and founder of aiXplain. "This complexity creates a tremendous barrier to success. In short, AI projects are difficult and costly to set up and deliver. We have built aiXplain to address this huge problem."

Gartner states that 85% of AI projects fail due to unclear objectives and obscure R&D project management processes. As well, 87% of R&D projects never get to the production phase, while 70% of clients indicate minimal or even no impact from AI. "These numbers speak to the tremendous size of the problem in designing, building and iterating on meaningful AI projects", said Raed A. Masri, founding partner of Transform VC.

"In every industry, the race is on to deploy AI to improve competitiveness, yet many companies don't have the technical teams and resources needed to develop, test, and deploy cutting-edge AI solutions. With aiXplain, even non-technical users can quickly create robust AI applications," said Jason Schoettler, managing partner at Calibrate Ventures. "Hassan, with over 25 years of experience building AI models at companies such as Amazon, Facebook, and eBay, has assembled an exceptional team of technologists and business strategists who clearly see the democratized future of AI."

In under a year, aiXplain has scaled rapidly among high-growth technology companies and Fortune 500 enterprises alike. Marco Trombetti, founder and CEO at Translated, a world leader in machine translation with over 200,000 customers worldwide, credits aiXplain with automating and streamlining its data-sourcing and machine learning development processes, resulting in new world-class products and generating fresh revenue. "Thanks to our deep partnership with aiXplain, we continue to expand our leadership position in the field of advanced natural language processing,'' said Trombetti. "aiXplain's enterprise-strength platform enables us to power faster and more profitable global expansions for companies such as Airbnb and Uber."

Bruce Lucas, founder and CEO of Slide, one of the largest insur-techs in the US, credits aiXplain with rapidly producing AI and machine learning solutions that leverage Slide's proprietary big dataset in revolutionary ways. "Using the aiXplain toolkit, our team was able to rapidly develop a prototype of a multimodal agent, analogous to Microsoft's CoPilot or OpenAI's ChatGPT," said Lucas. "This new agent will support our examiners in the complex process of claims handling."

Experience aiXplain:

• Sign up for a demo or kick off a free project to test out our platform at aixplain.com and experience what it's like to effortlessly gain control of your AI design, development and benchmarking.
• aiXplain is hiring - explore open opportunities at https://www.aixplain.com/careers

About aiXplain

aiXplain is the industry's first end-to-end integrated platform for quick development and delivery of AI projects and solutions. aiXplain's no-code/low-code integrated development environment (IDE) enables users to develop, manage, benchmark, experiment and deploy AI assets quickly and efficiently. aiXplain users come for productivity and stay to benefit from an ever-growing network of AI assets including data, models, pipelines, and benchmarks. Customers can design their own AI pipeline, benchmark their model against other models, use their own datasets or benefit from available datasets—all to easily create and maintain AI systems.

Contact:  [email protected]

About Calibrate VC

Calibrate Ventures is an early-stage venture capital firm investing in deep tech that can be applied at scale. Calibrate uses its expertise in AI, computer vision, and robotics to invest in technologies that can be integrated into broad, near-term industry applications in food, health, logistics, manufacturing, and security, among others. Calibrate typically leads Seed and Series A rounds, backing technical founders who have demonstrated disruptive vision in their fields. Founded in 2017, Calibrate is based in Pasadena, California, and invests throughout the United States.

About Transform VC

San Francisco-based Transform VC identifies and funds untapped and underrepresented technology founders for transformative impact & exceptional returns.  With a goal to enable 1000 tech founders to positively impact one billion lives and an affinity for immigrant, female, and BIPOC founders, Transform VC focuses on AI and technologies solving climate and social challenges.

SOURCE aiXplain, inc.

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