Led by 468 Capital, the investment will drive team and product growth to further establish Synthesis AI as the leader in synthetic data
SAN FRANCISCO, April 28, 2022 /PRNewswire/ — Synthesis AI, a pioneer in synthetic data technologies to build advanced computer vision AI models, today announced it has closed $17 million in Series A financing led by new investor 468 Capital, with additional participation from Sorenson Ventures and Strawberry Creek Ventures and existing investors, Bee Partners, PJC, iRobot Boom Capital and Kubera Venture Capital.
The latest round brings Synthesis AI’s total funding to over $24 million. The new funds will allow Synthesis AI to grow its world-class team and introduce new products to enable companies to build more advanced computer vision models faster. The company also plans to expand research surrounding the intersection of CGI and AI with a focus on neural rendering, mixed training (real and synthetic), and modeling of complex human behavior.
“Synthesis AI is uniquely positioned to win in the emerging synthetic data space. The breadth and depth of Synthesis AI’s platform, the quality of the team, and the extensive list of Fortune 50 customers firmly establish Synthesis AI as a category leader, ” states Florian Leibert, partner at 468 Capital. “We are excited to support Synthesis AI as they push forward their vision to transform how AI models are fundamentally developed.”
Synthesis AI’s leading technology and proven customer traction with leading AI and technology companies were critical to the company’s successful round. The company has a track record of innovation and, over the last year, the company recorded several noteworthy firsts in the industry. The company released the first book on synthetic data, produced the first white paper surrounding facial analysis with synthetic data, published the first industry survey, and launched the first self-serve product (HumanAPI) in the space that has delivered well over 10 million generated images.
Accelerating Company Momentum
The Series A financing follows the launch of OpenSynthetics, the first dedicated community for creating and using synthetic data in AI/ML and computer vision with centralized access to synthetic datasets, research, papers, and code. Through OpenSynthetics, AI/ML practitioners, regardless of experience, can share tools and techniques for creating and using synthetic data to build more capable AI models and work to power the next generation of computer vision.
Additionally, Synthesis AI is expanding its HumanAPI solution to support the development of advanced digital humans, with new functionalities for pose estimation, action recognition, and high-density landmarks. The new capabilities enable advanced applications in the metaverse, Augmented Reality (AR), Virtual Reality (VR), and others in generated media, home & enterprise security, and AI fitness.
“Last year was a momentous year, and we’re excited to continue growing our teams and products with the support of our terrific investors,” said Yashar Behzadi, CEO of Synthesis AI. “Synthetic data is at an inflection point of adoption, and our goal is to develop the technology further and drive a paradigm change in how computer vision systems are built. The industry will soon fully design and train computer vision models in virtual worlds enabling for more advanced and ethical AI.”
Synthesis AI was recently recognized as #4 in Fast Company‘s prestigious global list of the most innovative small companies and as one of the top 10 breakthrough technologies of 2022 by MIT Technology Review.
To learn more about Synthesis AI, visit https://synthesis.ai/.
About Synthesis AI
Synthesis AI, a San Francisco-based technology company, is pioneering the use of synthetic data to build more capable and ethical computer vision models. Through a proprietary combination of generative neural networks and cinematic CGI pipelines, Synthesis’ platform can programmatically create vast amounts of perfectly-labeled image data at orders of magnitude increased speed and reduced cost compared to current approaches. Synthesis AI’s customers include Fortune 500 technology, AR/VR/metaverse, automobile, teleconferencing, and AI companies.