AI startup Dataloop secured $16M in funding backed by Amiti Ventures

Dataloop, a Tel-Aviv based platform for Artificial Intelligence data annotation and management, has now secured $16 million in a funding round.

Dataloop is founded by Eran Shlomo in the year 2017. It provides a SaaS platform that combines human and machine intelligence to feed real-time data scenarios back to human counterparts while simultaneously streamlining the workflow and automated annotation tools.

Eran Shlomo, CEO of Dataloop, said, "Many organizations continue to struggle with moving their AI and ML projects into production as a result of data labeling limitations and a lack of real time validation that can only be achieved with human input into the system. With this investment we are committed, along with our partners, to overcoming these roadblocks and providing next generation data management tools that will transform the AI industry and meet the rising demand for innovation in global markets."

Modi Rosen, Managing Partner of Amiti VC, said, "I am very excited to be joining Dataloop as an investor and board member. Dataloop has developed the most advanced platform for AI labeling and unstructured data management in the AI era, and the efficiency of this platform will become a competitive advantage for their customers."

The Amiti Ventures led the latest funding round. Other participating investors include NextLeap Ventures, F2 Venture Capital, SeedIL Ventures, and OurCrowd.

The company as of now has plans to use the new funds to expand its team and grow its presence in the European and US markets.