The investment accelerates the commercialization of RAIC, a dual-use model-independent classification and detection platform for image data.
Participating investors include Lupa Systems, TitletownTech, Booz Allen Hamilton, and IBM Ventures.
DELAFIELD, Wis. — (BUSINESS WIRE) — February 6, 2024 — Synthetaic, a leading provider of advanced AI solutions, raised $15 million in Series B funding from new and existing investors. The round was co-led by Lupa Systems and TitletownTech, with participation from IBM Ventures and Booz Allen Hamilton.
Synthetaic’s RAIC platform offers a streamlined solution for quick and cost-effective object search within raw image data. This innovation significantly reduces the complexities associated with unlocking the full potential of massive, unstructured image datasets, providing businesses with immediate insights via rapid search and iterative AI model training.
“Over the past year, we’ve proven that when it comes to your data, if you can see it, RAIC can search it,” said Corey Jaskolski, Synthetaic CEO and Founder. “The next chapter is about bringing that technology to market so that companies across all industries can find the seemingly impossible answers locked inside their visual datasets.”
“With the volume of image and video data that companies have previously been unable to take advantage of, Synthetaic now provides an incredible new capability to make that data useful and valuable," said TitletownTech Managing Director and Synthetaic Board Member Jill Enos. "We’re thrilled to be on this journey with Corey and we can’t wait to see what the team accomplishes next.”
This latest round will accelerate customer acquisition and capture new market opportunities for Synthetaic’s ground-breaking AI-powered data analysis solutions. RAIC’s versatile capabilities cover satellite imagery, full-motion video, drone photography, infrared thermography, and other image data types, catering to both commercial and federal sectors.
For example, Synthetaic successfully traced the full path of a suspected Chinese spy balloon in geospatial satellite data. Starting from a hand-drawn sketch, RAIC took only two minutes to return a match after combing through 18 trillion pixels of Earth observation imagery. The find formed the basis of a full investigation of the balloon’s path with The New York Times’ Visual Investigation team. RAIC was also utilized by CNN to analyze geospatial imagery in an active warzone for an exclusive investigation which was featured as CNN.com’s top story worldwide. In short, projects that would have taken years to complete with traditional methods and technical talent, now take minutes and can be completed by anyone.
“We are excited to be investing in the amazing team at Synthetaic and working with them to explore new enterprise use cases leveraging their RAIC technology,” said Thomas Whiteaker, IBM Ventures Partner. “This is a very compelling investment in support of our AI Strategy.”
“For IBM, this investment is not just about advancing the technology stack, but embracing innovation that complements our ongoing focus on how AI can drive sustainability for our clients,” said Christina Shim, VP and Global Head of Product and Strategy, IBM Sustainability Software.
Leading companies and federal agencies like The United States Air Force and BBC trust Synthetaic’s RAIC platform to unlock their visual data. Synthetaic also partners with Microsoft and Planet Labs to provide customers with the ability to leverage massive compute power and geospatial data for insights, in addition to their own video and image data.
Since Synthetaic’s inception, the company’s mission has included undertaking projects that positively impact the world. Synthetaic’s AI for Impact program has played a crucial role in supporting scientists, explorers, and researchers with esteemed organizations including the United Nations, The Nature Conservancy, and National Geographic.
About Synthetaic
Founded in 2019, Synthetaic builds software that unlocks the full potential of your data. Powered by cutting-edge AI, our solutions make impossible visual data analysis possible. Our platform, RAIC, facilitates instant search for any object in any kind of image data, including full-motion video and satellite imagery. Its one-of-a-kind capabilities have been applied to use cases across industries including security, conservation, defense, agriculture and more. To learn more, please visit synthetaic.com.
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Contact:
Lauren Lemieux, lauren@synthetaic.com