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Kolena Raises $15M in Series A Funding

Sep 26, 2023 - finsmes.com
Kolena, a San Francisco-based AI and machine learning model testing company, has secured $15M in a Series A funding round. The round was led by Lobby Capital and saw participation from SignalFire, Bloomberg Beta, 11.2 Capital, and Zero Prime Ventures. The new funds, which bring the total amount raised by the company to $21M, will be used to hasten the development of its AI testing and validation solution.

The company, under the leadership of CEO Mohamed Elgendy, offers an end-to-end ML model testing for various AI applications with the aim of ensuring trustworthiness and reliability. Its platform enables enterprises to assemble specific test cases from their AI model data sets, allowing for the evaluation of each model's effectiveness in key scenarios. Kolena's solution has been adopted by several Fortune 500 companies, AI startups, government organizations, and European AI standardization institutes.

Key takeaways:

  • Kolena, an AI and machine learning model testing company, has raised $15M in Series A funding.
  • The funding round was led by Lobby Capital, with participation from SignalFire, Bloomberg Beta, 11.2 Capital, Zero Prime Ventures.
  • The company plans to use the funds to accelerate the development of its AI testing and validation solution.
  • Kolena's platform is used by several Fortune 500 companies, leading AI startups, government organizations and European AI standardization institutes.
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