Dataloop, a startup from Israel, which develops software and services for businesses to automate aspects of data preparation, has announced that it raised $33 million in a Series B round led by Nokia Growth Partners (NGP) Capital and Alpha Wave Global.
- This latest round brings Dataloop's total funding to $50 million. Prior to this, the startup had raised $11 million in its Series A round in 2020 and $5 million in seed capital from F2, SEEDIL, and NLV.
- Dataloop, one of the many startups vying for a foothold in the budding market, provides a customisable software-as-a-service platform that combines human and machine intelligence to train and label unstructured data for enterprises in India and around the world.
- Founded in 2017, Dataloop started out with a focus on the AI-annotation services, but now looking to encompass the full lifecycle for AI and ML projects, building a reliable data and pipeline management platform to close the data loop faster and more efficiently, shaving off the time to market as well as ensuring high-quality AI application.
- The startup plans to deploy the newly acquired funding to expand its global footprint and to build teams in the United States, Europe, and India to help organizations tackle the challenge of growth and ensure their business' data quality at the same time.