Katonic.ai raises $1.6 million Pre-series A funding
December 22, 2022
Katonic.ai, an Australian Enterprise Machine Learning Operations (MLOps) platform startup founded by Prem Naraindas, today announced that it raised $1.6 million in a pre-Series A round led by Asia-Pacific venture capital firm, Artesian, with support from Boab AI. Katonic.ai was recently announced as the only Asia-Pacific company to be featured in the prestigious Everest Group’s MLOps Products PEAK Matrix 2022.
This round is the startup’s first foray into accepting external capital raise and also will be includes supported by from Boab AI – an initiative investment program dedicated to scaling up early-stage AI companies.
This marks an exciting milestone for the organisation Katonic, which is pioneering the use of artificial intelligence and machine learning operations to power new applications and breakthrough innovations. The new funding round will enable Katonic to expand its products and services, hire additional talent, and grow its customer base. Furthermore, with the support of Artesian and Boab AI, Katonic is now well-positioned to take advantage of global opportunities and capture a larger share of the multi-billion dollar MLOps market.
Katonic's founder and CEO Prem Naraindas expressed his enthusiasm for what this investment means for their team: “We have worked hard to build our product and are now focused on delivering those productsit to as many clients as possible. We’re on a strong growth trajectory and are thrilled to have the support of Artesian and Boab AI. This round of funding will enable us to take our product and services to a new level, helping our customers achieve better and faster business results through AI-powered applications.”
“While enterprise investment in AI/ML continues to accelerate, putting models into production remains a key challenge for many companies. Katonic’s end-to-end MLOps platform allows businesses to quickly and securely deploy AI/ML models into production, ensuring they maximise their return on investment. We’re excited to join forces with Prem and his team on the next phase of their journey,” said David Spencer, Investment Analyst at Artesian.
The concept of leveraging data science to gain competitive advantage is incredibly enticing yet difficult to achieve. Companies often find themselves limited by the lack of access to the necessary infrastructure, tools, and data to execute a model-driven strategy successfully. To compensate for these deficits, companies develop isolated pockets of data science that prevent any real collaboration or sharing of knowledge.
The Katonic MLOps Platform is designed to break these silos and help companies streamline the entire data science process. Katonic’s MLOps platform is designed to help companies develop and manage AI-powered applications more efficiently and effectively. The platform provides customers with a comprehensive suite of tools that support the entire lifecycle of AI development, including data acquisition, automation, deployment and monitoring.
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Learn more about the Everest Group’s MLOps Products PEAK Matrix 2022.
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Katonic.ai is an Australian AI-ML ISO 27001 company helping businesses realise the value of enterprise AI faster, with proven and practical approaches to create new applications and achieve breakthrough innovations. Katonic Machine Learning Operations Platform (MLOps) Platform is a collaborative platform with a Unified UI to manage all data science in one place. Katonic MLOps Platform is for customers and developers to introduce the MLOps practice into their production systems. The Platform combines the creative scientific process of data scientists with the professional software engineering process to build and deploy Machine Learning Models into production safely, quickly, and sustainably. Katonic MLOPS Platform runs in your Kubernetes cluster and can be deployed anywhere – multi-cloud, on-prem, or edge. Katonic.ai is the only Asia-Pacific AI company to be featured in the prestigious Everest Group’s MLOps Products PEAK Matrix® 2022.
Artesian is a global alternative asset manager specialising in venture capital and debt investments. Artesian’s venture team invests in pre-seed to Series A startups across Australia and the broader Asia Pacific region, with extensive experience in critical technology sectors including climate & clean energy, agriculture & food security, health & well-being, AI & robotics, education, and gender equality. Artesian integrates an impact lens into all investment mandates. The firm is a signatory to the United Nations Principles for Responsible Investment and is a certified B-Corp.
Everest Report: Everest Group’s MLOps Products PEAK Matrix® 2022.