Granica, a Mountain View, CA-based AI efficiency platform provider, raised $45M in funding.
The round was led by NEA and Bain Capital Ventures, with participation from Tesla CFO Deepak Ahuja, Eventbrite Chairman and co-founder Kevin Hartz and Frederic Kerrest, Executive Vice Chairman and co-founder, Okta
The company intends to use the funds to expand its business reach among petabyte-scale Amazon S3 and Google cloud storage customers.
Co-founded by CEO Rahul Ponnala and CTO Tarang Vaish, Granica is a provider of an AI efficiency platform which aims to boost ROI on AI by increasing the information efficiency of AI training data. Powered by compression and deduplication algorithms, its byte-granular inline data reduction of petabyte-scale sensor, image and text AI training data runs transparently in the background, reducing AI data costs. The company also provides privacy preservation for PII and other sensitive information, unlocking valuable data for safe use in downstream AI workflows.
Through a cloud service provider-native infrastructure, the Granica AI Efficiency Platform integrates inline with cloud applications, making data as well as downstream pipelines and models more efficient, more performant and privacy preserving. Granica Crunch, the company’s data reduction service, eliminates redundant and low-value data, cutting costs and speeding up downstream processes for hot AI data. Granica Screen, the company’s data privacy service, enables organizations to safely leverage sensitive data for AI and business use cases while improving their data security posture and reducing breach risk.
FinSMEs
12/06/2023