Bonsai Secures $7.6 Million Funding from Microsoft Ventures and NEA

Bonsai Secures $7.6 Million Funding from Microsoft Ventures and NEA

Bonsai will use the investment to grow innovations in AI modeling tools. It also launched Early Access program for enterprises to build and deploy AI models with the Bonsai platform

AI start-up Bonsai secured $7.6 million in funding co-led by Microsoft Ventures and existing investor NEA.  This brings its total funding raised since inception to $13.6 million.

“Microsoft aims to democratize AI, and Bonsai is executing on this vision by abstracting away the complexity of machine learning tools, enabling developers and enterprises to more efficiently program intelligence.” — Nagraj Kashyap, Corporate VP of Microsoft Ventures

The Microsoft AI Fund kicked off last December with its first investment in Montreal-based Element AI. Other strategic investors included ABB Technology Ventures, Samsung NEXT, and Siemens.

The company will deploy the new investment for continued product innovation. The platform simplifies open-source machine learning libraries like  TensorFlow to help businesses access the programming and management of their AI models. It makes AI accessible to domain experts without AI training and has a stellar team with strong AI expertise.

Subsequently, it released an early access program that works with enterprises related to robotics, manufacturing, retail, logistics, and energy. The program is to jointly design, build and deploy AI models with the Bonsai platform.

Mark Hammond and Keen Browne founded Bonsai to make intelligence a core component of every hardware and software application. Hammond informed that Bonsai uniquely harnesses the power of complex machine learning libraries and algorithms in a way that is accessible to enterprises.

He further added, “With the strategic funding and the early interest we are seeing in the market, we are excited to accelerate the innovations, engagement and solutions development work required for our customers to realize the significant impact AI can deliver to their business.”

This year Bonsai has been listed among CB Insight’s AI 100, as an MIT Sloan CIO Symposium Innovation Showcase finalist and a Strata+Hadoop World Startup Showcase winner.

Read Also: Quantomic’s Tagspire Brings AI into Social Commerce

Previous ArticleNext Article

Leave a Reply

Your email address will not be published. Required fields are marked *