AI-driven machine learning startup H2O.ai raises $72.5 million from Goldman Sachs, NVIDIA, Nexus Venture Partners, others

Must Read

Howdy, Modi! : World media reactions on Modi-Trump’ grand Houston Event address

New Delhi, Sep 23: United States President Donald Trump and Indian Prime Minister Narendra Modi on late Sunday shared...

Howdy Modi : Modi-Trump mark history in US-India relationship with great show at Houston

Houston, Sep 22:  Modi, delivering his speech at the historic event, talks about the development underwent over five years...

ECI announces dates of Maharashtra & Haryana elections; Single Phase Election on October 21; Result on 24th

Election Commission of India has announced the dates of much-awaited state elections. According to the Chief Election Commissioner, Sunil...

H2O.ai, based out of California, is an open-source platform in AI (artificial intelligence) and automatic machine learning, which has received $72.5 million (approx ₹519 crore) funding from Goldman Sachs and Ping An Global Voyager Fund.

The investment has been made through series D round of the company with participation from Wells Fargo, NVIDIA, and Nexus Venture Partners.

The company said that the current round raised the total funding in the company to around $147 million and Jade Mandel, from the Goldman Sachs, will be joining the H2O.ai as Board of Directors.

The infused funds will be used by the company to accelerate innovation and expand sales and marketing globally and to further simplify AI for business users with new and ground-breaking technologies.

H2O.ai was founded by Sri Ambati in 2012. As mentioned above, it is an open source leader in AI and automatic machine learning with Driverless AI.

The platform aims to democratize AI for all and to transform the use of AI with software with its category-creating visionary open source machine learning platform, H2O.

More than 18,000 companies use open-source H2O in mission-critical use cases for Finance, Insurance, Healthcare, Retail, Telco, Sales, and Marketing, as per the company’s website.

H2O.ai recently launched Driverless AI that uses AI to do AI in order to provide an easier, faster and effective means of implementing data science.

“H2O.ai is democratizing AI and powering the imagination of every entrepreneur and business globally – we are making them the true AI superpowers,” said Sri Ambati, chief executive and Founder at H2O.ai.

“Our customers are unlocking discovery in every sphere and walk of life and challenging the dominance of technology giants. This will be fun,” Ambati added.

“We’re thrilled to partner with the H2O.ai team on their mission to democratize artificial intelligence,” said Jade Mandel, Vice President, Principal Strategic Investments Group at Goldman Sachs.

“Their deep technical bench and customer centricity make them well positioned to bring transparency and efficiency to the world of prediction,” Mandel added.

Some of the players in the similar domain include People.ai, Petuum, Databricks, Trim and many more.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Airtel-Bharti AXA Life tie up for insurance with prepaid plan

New Delhi, Sep 23 (IANS) As part of its strategy to leverage the deep penetration of mobile services to...

Parineeti all emotional after wrapping up ‘The Girl On…’ remake

London, Sep 23 (IANS) Parineeti Chopra has wrapped up the shooting for Hindi remake of the Hollywood movie "The Girl On The Train". The...

SBI to adopt RBI’s repo rate as external benchmark

Mumbai, Sep 23 (IANS) State Bank of India, the countrys largest lender, has decided to adopt RBIs repo rate as the external benchmark for...

With 4 judges sworn in, SC attains full strength

New Delhi, Sep 23 (IANS) The Supreme Court on Monday attained its full strength after the swearing of four new judges taking the total...

EIB, 8 banks to raise annual climate finance by 2025

New York, Sep 23 (IANS) The European Investment Bank (EIB), together with eight other multilateral development banks like the Asian Development Bank, pledged at...
- Advertisement -

More Articles Like This