Latent AI, which says it can compress common AI models by 10x, lands some key backing – TechCrunch

Roughly a year ago, Latent AI, a now three-year-old, Menlo Park, California-based startup, pitched a handful of investors during TechCrunch's Battlefield competition. It didn't win that contest, but that hasn't kept it from winning the interest of investors elsewhere. It just closed on $19 million in Series A funding in a round co-led by Future Ventures and Blackhorn Ventures, with participation from Booz Allen, Lockheed Martin, 40 North Ventures, and Autotech Ventures. The company has now raised $22.5 million altogether. Steve Jurvetson, the veteran investor and co-founder of Future Ventures, says of possible applications to think of "face-detection algorithms running locally within security cameras or appliances, or Siri-like voice interfaces working instantly," even when there's no network connectivity.