V7, a data engine to build and improve AI for computer vision, has raised £27 million in Series A financing.
Fortune 500 companies, scaleups and startups use the platform to build AI models that learn from unstructured data including medical records, paper documents and video.
The London firm said the round was co-led by AI-focused Radical Ventures and Temasek, with participation from existing investors Air Street Capital, Amadeus Capital Partners and Partech.
It will allow V7’s further expansion into the US market, growing its team in its biggest market.
In 2022, the business grew ARR by 3x, organic traffic to its website increased by 100x and the team grew headcount by 5x to meet significant market demand for the product.
With 300+ clients including GE Healthcare, Paige AI, and Siemens, V7 says its customers are deploying AI technology to support faster release of AI models in mission-critical applications.
These range from major technological breakthroughs like end-to-end autonomous driving and sorting nuclear waste through robotic arms, to potentially life saving applications like early cancer detection.
“The next generation of software won’t run on code, it will run on models fuelled by training data,” said CEO Alberto Rizzoli.
“We let our clients easily turn human knowledge into AI models, improving the safety and accuracy of AI.
“This is incredibly powerful, and in the right hands, can literally save lives. If we want to build software that tackles unsolved frontiers in human health, or our climate, this is the only way.”
The funding round also included participation from machine learning pioneers Francois Chollet (Keras creator), Oriol Vinyals (DeepMind), Jose Valim (Elixir creator), and Ashish Vaswani, who co-created Transformer models while at Google Brain.