Intel continues to support start-ups to develop machine learning and AI features. As a final move, TechCrunch learned that the giant has acquired Cnvrg.io, an Israeli company that has built and operates a platform for data scientists to build and operate machine learning models that can be used for training and monitoring many models and performing comparisons on them and creating suggestions.
Intel confirmed in a brief press release. "We can confirm that we have acquired Cnvrg," a spokesman said. "Cnvrg will be an independent company from Intel and will continue to serve existing and future customers of. ” These customers include Lightricks, ST Unitas and Playtika.
Intel has not disclosed the financial terms of the deal, nor which of the startups will join Intel. Cnvrg.io, co-founded by Yochay Ettun (CEO) and Leah Forkosh Kolben, had raised $ 8 million from investors, including Hanaco Venture Capital and Jerusalem Venture Partners, and PitchBook estimates it was valued at about $ 17 million. dollars.
Just a week ago Intel did another one redemption to enhance its business AI technology, also in the field of machine learning modeling: acquired SigOpt, which has developed a platform optimization to perform machine learning models and simulations.
The Cnvrg.io platform operates in indoor environments, in cloud and hybrids and is available in paid and free packages (we covered the release of the free service, called Core, last year). THE competition her are the Databricks, Sagemaker and Dataiku, as well as smaller companies such as H2O.ai built on frames open source. Cnvrg's goal is to provide a user-friendly platform for data scientists to focus on inventing algorithms and in measuring the way operation not in the construction or maintenance of the platform on which they work.
Although Intel does not say much about the deal, the same logic seems to apply to last week's acquisition of SigOpt: Intel has refocused on business of around chips next generation to better compete with Nvidia and smaller players like GraphCore. Therefore, it makes sense to provide / invest in AI tools for clients, especially in services that will help calculate the compute loads that will run on these chips.