Showing posts with label Swim. Show all posts
Showing posts with label Swim. Show all posts

Wednesday, July 18, 2018

SWIM.AI raises $10m for edge intelligence

SWIM.AI, a start-up based in San Jose, California announced $10 million in Series B funding for its edge intelligence software.

SWIM.AI combines local data processing/analytics, edge computing and machine learning to efficiently deliver real-time business insights from edge data on edge devices. The goal is to help customers analyze high volumes of streaming edge data and deliver real-time insights that can easily be shared and visualized.

The company said the funding will be used to launch a Cambridge UK based AI R&D center.

The funding round was led by Cambridge Innovation Capital plc (CIC), the Cambridge-based builder of technology and healthcare companies, with a strategic investment from Arm, and further participation from existing investors Silver Creek Ventures and Harris Barton Asset Management.

“Demand for the EDX software is rapidly increasing, driven by our software’s unique ability to analyze and reduce data, and share new insights instantly peer-to-peer, locally at the ‘edge’ on existing equipment. Efficiently processing edge data and enabling insights to be easily created and delivered with the lowest latency are critical needs for any organization,” said Rusty Cumpston, co-founder and CEO of SWIM.AI. “We are thrilled to partner with our new and continuing investors who share our vision and look forward to shaping the future of real-time analytics at the edge.”