Synthesis AI, a pioneer in synthetic data technologies to build advanced computer vision AI models, announced it has closed $17 million in Series A financing led by new investor 468 Capital, with additional participation from Sorenson Ventures and Strawberry Creek Ventures and existing investors, Bee Partners, PJC, iRobot Boom Capital and Kubera Venture Capital.
The latest round brings Synthesis AI's total funding to over $24 million. The new funds will allow Synthesis AI to grow its world-class team and introduce new products to enable companies to build more advanced computer vision models faster. The company also plans to expand research surrounding the intersection of CGI and AI with a focus on neural rendering, mixed training (real and synthetic), and modeling of complex human behavior.
Synthesis AI's leading technology and proven customer traction with leading AI and technology companies were critical to the company's successful round. The company has a track record of innovation and, over the last year, the company recorded several noteworthy firsts in the industry. The company released the first book on synthetic data, produced the first white paper surrounding facial analysis with synthetic data, published the first industry survey, and launched the first self-serve product (HumanAPI) in the space that has delivered well over 10 million generated images.
"Last year was a momentous year, and we're excited to continue growing our teams and products with the support of our terrific investors," said Yashar Behzadi, CEO of Synthesis AI. "Synthetic data is at an inflection point of adoption, and our goal is to develop the technology further and drive a paradigm change in how computer vision systems are built. The industry will soon fully design and train computer vision models in virtual worlds enabling for more advanced and ethical AI."
Synthesis AI was recently recognized as #4 in Fast Company's prestigious global list of the most innovative small companies and as one of the top 10 breakthrough technologies of 2022 by MIT Technology Review.