Montreal-based AI startup Deeplite honored for achievements in making deep learning models smaller, faster and energy efficient for edge devices
NEW YORK and MONTREAL, March 3, 2020 /PRNewswire/ - CB Insights today named Montreal-based AI startup Deeplite, Inc. to the fourth annual AI 100 ranking, showcasing the 100 most promising private artificial intelligence companies in the world.
"It's been remarkable to see the success of the companies named to the Artificial Intelligence 100 over the last four years. The 2019 AI 100 saw 48 companies go on to raise $4.9B of additional financing and nine got acquired," said CB Insights CEO Anand Sanwal. "It has been gratifying to see that CB Insights' data-driven approach to identifying the top AI companies using patents, customer traction, investor quality, market sizing and more has become so effective at picking the AI winners of tomorrow. We look forward to seeing what the 2020 AI 100 companies will accomplish over the course of this year and beyond."
In addition to disrupting core sectors including healthcare, retail, and finance, the 2020 AI 100 companies are revamping the broader enterprise tech stack. These companies span the globe, from the US, UK, China, Chile, and South Africa, and are supported by more than 600 investors.
"We are thrilled to be recognized as one of the world's leading AI startups. This selection comes at an important time for Deeplite as we onboard our first customers and provides tremendous validation of our vision of enabling AI everywhere," said Nick Romano, President & CEO of Deeplite. "Our Lightweight IntelligenceTM engine sets us apart by providing unmatched performance results such as a 69x size reduction on MobileNet with virtually no change in accuracy. With Deeplite, developers can optimize and accelerate the development of deep-learning algorithms for resource-limited edge devices. Deeplite unlocks the potential to deploy AI where it was previously not possible."
Through an evidence-based approach, the CB Insights research team selected the AI 100 from nearly 5,000 companies based on several factors including patent activity, investor quality, news sentiment analysis, proprietary Mosaic scores, market potential, partnerships, competitive landscape, team strength, and tech novelty. The Mosaic Score, based on CB Insights' algorithm, measures the overall health and growth potential of private companies to help predict a company's momentum.
Deeplite is a purpose-built software platform designed to enable AI everywhere. Deeplite helps AI development teams to focus on building accurate AI models and create highly compact, high performance models for production deployment. Deeplite addresses the problem of ever larger AI models required to be deployed into increasingly constrained devices. Its automated model optimization process can transform inefficient but accurate AI models into efficient models for size, speed and power consumption, that can be deployed on any hardware platform on any edge device. For autonomous driving, consumer electronic OEM's, AI application vendors, semiconductor manufacturers, no other solution in the market can achieve the optimization results that Deeplite can, in an automated way.
Quick facts on the 2020 AI 100:
- As of the end of February 2020, these 100 emerging private companies have raised over $7.4B in funding across 300+ deals from 600+ unique investors.
- There are 10 unicorns (companies valued over $1B) in this year's AI 100 cohort.
- The list spans across various industries, including healthcare, retail & warehouse, and finance & insurance.
- 13 countries, such as China, Sweden, and Japan, are represented on the ranking. The majority of startups (65%) are based in the United States.
To see the complete list of the AI 100 companies please visit the CB Insights website at: https://www.cbinsights.com/research/artificial-intelligence-top-startups/
ABOUT CB INSIGHTS
CB Insights helps the world's leading companies accelerate their digital strategy and transformation efforts with data, not opinion. Our Emerging Tech Insights Platform provides companies with actionable insights and tools to discover and manage their response to emerging technology and startups. To learn more, please visit www.cbinsights.com.
ABOUT DEEPLITE, INC.
Founded in 2018 and based in Montreal, Deeplite is a purpose-built software platform designed to enable AI everywhere. We help AI development teams to focus on building accurate AI models and use Deeplite to create highly compact, high performance models for production deployment. We address the problem of ever larger AI models required to be deployed into increasingly constrained devices. Our automated model optimization process can transform inefficient but accurate AI models into models optimized for size, speed and power consumption for deployment on any hardware platform on any edge IoT device.
Deeplite has received many industry recognitions including being named a 2019 Canadian Innovation Exchange (CIX) Top20 company and the 2019 Innovation Award Quebec. For more information please visit www.deeplite.ai