Nvidia’s GPU Ventures Program drives investment into six AI startups over the past year

  • by NewsPR
  • 2 Years ago
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With AI and machine learning finding its way into the veins of each technological solution, Nvidia is not one to back down to join the revolution. The company is organizing its GPU Technology conference in San Jose, California between May 8 and May 11, where it’ll discuss innovative technologies and research work in the field of graphics processing.

With regards to the same, Nvidia has today disclosed that it invested capital into six new startups in three countries over the past year. This will not only help these companies help support their expansion but also gain recognition in the industry. The chipmaker, who is currently working on new AI and ML-powered chips to support connected solutions, will now provide technical support, guidance, strategic direction, and joint marketing aid.

The companies which have been deemed worthy by Nvidia are:

  • Abeja: Tokyo-based startup founded in 2012, which has integrated AI into cloud-based retail analytics systems.
  • Datalogue: New York-based AI-powered data mining company born out of the Cornell University. It automates the process of data preparation.
  • Optimus Ride: It is an MIT spin-off company that’s developing self-driving technologies.
  • SoundHound: a popular name in the AI-powered voice assistant industry. It secured hefty funding to build out its own assistant app, which can give Siri, Cortana, and others a run for their money. It is based out of Silicon Valley.
  • TempoQuest: Based out of Las Vegas, this startup is building SaaS software solutions for advanced weather forecasting using GPU processors.
  • Zebra Medical: This heavily funded Israeli startup (around $20 million) is building a medical imaging insights platform. This solution is using AI and computer vision to read medical images, detect the quirks and provide diagnosis.

Nvidia’s GPU Ventures Program has been launched with the sole aim of promoting and supporting young startups while they’re busy building their business around GPU-based platforms (which is Nvidia’s forte). Plus, their work should be aligned with the company’s current strategy, i.e expanding their presence in the fields ranging from artificial intelligence (AI) or mobility to virtual reality or life sciences. Further describing this initiative, the official website writes:

The GPU Ventures program identifies the best emerging technology and uses the company’s extensive network of business relationships to connect promising startups with customers and accelerate their businesses.

The leading graphics chipmaker has pumped capital into more than twenty-five startups until date. And now plan on expanding the number by leading investments into new AI startups. It had invited fourteen startups, out of the 1,300 who are part of its Inception Program, to pitch their portfolios in a competition last week.

The winners will be provided funds across three different categories – hottest emerging, most disruptive and best social innovation. The leading company in each category will be awarded $375,000 whereas the runner-up secures $125,000. This means the winners will be handed down a total of $1.5 million at GTC next month.

Source:: https://thetechportal.com/2017/04/26/nvidia-gpu-ventures-six-ai-investments/

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