Seldon Receives $20 Million Investment

London-based Seldon offers a Machine Learning (ML) operations platform. The company managed to raise $20 million in a Series B round on Thursday. Seldon's Series B round was led by Bright Pixel, based in Portugal. Current investors AlbionVC, Cambridge Innovation Capital and Amadeus Capital Partners also participated in the round.

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Seldon

Bright Pixel is a technology investment fund owned by the multinational Sonae group. It aims to invest in companies in areas such as cybersecurity, digital infrastructure and retail technologies. The fund has a portfolio of more than 50 companies ranging from early-stage startups to growth-stage companies.

Seldon was founded by Alex Housley in 2014. It aims to accelerate businesses to improve business performance and manage risks by adopting machine learning. Today, many businesses aim to optimize their business processes by investing in artificial intelligence technologies. However, due to various constraints, increased regulation and compliance requirements, there are also businesses that have problems scaling these technologies in their production models.

London-based Seldon offers a machine learning operations platform to help solve these problems, enabling businesses to use AI technologies more efficiently. According to Seldon, users have achieved productivity gains of up to 92 percent and saved millions of dollars on machine learning projects using the platform. Seldon has achieved these successes by powering the full production lifecycle at major organizations such as PayPal, Johnson & Johnson, Audi and Experian.

Seldon says it will use the funds to develop its data-centric AI strategy and will also invest in customer success as well as strengthen its global support function. The company claims its open-source frameworks have grown 400 percent each year since it launched its series A in November 2020. Seldon's main focus lately has been on his research focused on the creation of "innovative" products in collaboration with teams at the University of Cambridge.