Allegro.AI nabs $11M for 'deep learning as a service', for businesses to build computer vision products

Artificial intelligence and the application of it across nearly every aspect of our lives is shaping up to be one of the major step changes of our modern society. Today, a startup that wants to help other companies capitalise on AI's advances is announcing funding and emerging from stealth mode. Allegro.AI, which has built a deep learning platform that companies can use to build and train computer-vision-based technologies -- from self-driving car systems through to security, medical and any other services that require a system to read and parse visual data -- is today announcing that it has raised $11 million in funding, as it prepares for a full-scale launch of its commercial services later this year after running pilots and working with early users in a closed beta. The round may not be huge by today's startup standards, but the presence of strategic investors speaks to the interest that the startup has sparked and the gap in the market for what it is offering. It includes MizMaa Ventures -- a Chinese fund that is focused on investing in Israeli startups, along with participation from Robert Bosch Venture Capital GmbH (RBVC), Samsung Catalyst Fund and Israeli fund Dynamic Loop Capital.