San Francisco-based RealityEngines, an AI and machine learning research startup, has secured $5.25 million in funding. The lead investors were Eric Schmidt, ex-CEO and chairman of Google and Ram Shriram, a founding Google board member. Also, other investors that participated in the round included Khosla Ventures.
San Francisco, June 12th – RealityEngines.AI, a San Francisco based AI and machine learning research startup, has closed a round of seed funding for $5.25M. The funding was led by Eric Schmidt, former CEO and Chairman of Google and Ram Shriram, a founding Google board member. Khosla Ventures, Paul Buchheit, Deepchand Nishar, Elad Gil, Keval Desai, Don Burnette and others also participated in the seed round.
The financing will be used to create a research and development team, that is focused on AI and ML research to solve hard real-world problems and create pay-as-you-go cloud managed services that are easily accessible to organizations of all sizes. Specifically, we want to address the following 3 real-world AI challenges:
1. Train accurate AI models with incomplete/noisy data: Often times, organizations have sparse, incomplete or noisy datasets. Being able to train robust models on these datasets will level the playing field offsetting the data advantage that large tech companies currently enjoy. RealityEngines will use cutting edge techniques from generative modelling and transfer learning to empower organizations to easily create AI models from sparse and incomplete data.
2. AI assisted ML – Create an AI that takes care of all the heavy-lifting that is involved in creating near state-of-the-art machine learning systems. Enable developers and data- scientists to create new ML/AI systems in hours, instead of months. RealityEngines will implement automated feature engineering and neural architecture search that automatically build accurate ensemble models from customer datasets
3. Build explainability and fairness into AI and machine learning systems. Black box AI models that produce unexplained predictions cannot earn the trust of domain experts and business owners. Explainable AI and bias removal are essential for successful deployment of AI and ML for mission critical operations or decision making.
RealityEngines was founded by Bindu Reddy, Chetan Rai and Arvind Sundararajan. Bindu Reddy is the CEO of the company. Before co-founding RealityEngines, she was the General Manager for AI Verticals at Amazon Web Services. Previously, Ms. Reddy used to be head of product for Google Apps before she started another company called Post Intelligence, which was acquired by Uber. Chetan, COO of RealityEngines was most recently at Hewlett Packard Enterprise, where was the GM and VP for Infosight, HP’s predictive analytics platform for AIOps. Chetan joined HPE via a $1B acquisition of Nimble Storage where he was VP of Engineering and a founding team member. Arvind Sundararajan, CTO of RealityEngines, was a senior engineering leader in Uber’s autonomous vehicle program (ATG) and at Google, where he was the engineering lead for the Gmail backend and AdSense’s serving infrastructure.