Australian MLOps Startup, Katonic.ai Raises $1.6 million Pre-Series A Funding

Katonic.ai, an Australian MLOps platform startup, raised $1.6 million in a pre-Series A round led by Asia-Pacific venture capital firm, Artesian & Boab AI

Katonic.ai, an Australian Enterprise Machine Learning Operations (MLOps) platform startup founded by Prem Naraindas, announced that it raised $1.6 million in a pre-Series A round led by Asia-Pacific venture capital firm, Artesian, with support from Boab AI. Katonic.ai was recently announced as the only Asia-Pacific company to be featured in the prestigious Everest Group’s MLOps Products PEAK Matrix 2022.

This round is the startup’s first external capital raise and includes support From Boab AI – an investment program dedicated to scaling up early-stage AI companies.

This marks an exciting milestone for Katonic, which is pioneering the use of artificial intelligence and machine learning operations to power new applications and breakthrough innovations. The funding round will enable Katonic to expand its products and services, hire additional talent, and grow its customer base. Furthermore, with the support of Artesian and Boab AI, Katonic is now well-positioned to take advantage of global opportunities and capture a larger share of the multi-billion dollar MLOps market.

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“We’re on a strong growth trajectory and are thrilled to have the support of Artesian and Boab AI. This round of funding will enable us to take our product and services to a new level.”

— Katonic’s founder and CEO, Prem Naraindas

Katonic’s founder and CEO Prem Naraindas expressed his enthusiasm for what this investment means for their team: “We have worked hard to build our product and are now focused on deliveringit to as many clients as possible. We’re on a strong growth trajectory and are thrilled to have the support of Artesian and Boab AI. This round of funding will enable us to take our product and services to a new level, helping our customers achieve better and faster business results through AI-powered applications.”

“While enterprise investment in AI/ML continues to accelerate, putting models into production remains a key challenge for many companies. Katonic’s end-to-end MLOps platform allows businesses to quickly and securely deploy AI/ML models into production, ensuring they maximise their return on investment. We’re excited to join forces with Prem and his team on the next phase of their journey,” said David Spencer, Investment Analyst at Artesian.

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The concept of leveraging data science to gain competitive advantage is incredibly enticing yet difficult to achieve. Companies often find themselves limited by the lack of access to the necessary infrastructure, tools, and data to execute a model-driven strategy successfully. To compensate for these deficits, companies develop isolated pockets of data science that prevent any real collaboration or sharing of knowledge.

The Katonic MLOps Platform is designed to break these silos and help companies streamline the entire data science process. Katonic’s MLOps platform is designed to help companies develop and manage AI-powered applications more efficiently and effectively. The platform provides customers with a comprehensive suite of tools that support the entire lifecycle of AI development, including data acquisition, automation, deployment and monitoring.