Stockholm-based startup Peltarion gets €18M to make AI accessible, usable & scalable

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Stockholm-based startup Peltarion is dedicated to enhancing the quality of life through artificial intelligence. It has just secured a funding of €18 million from Euclidean Capital. The startup specialises in operational AI for scalable applications.

Earlier, Peltarion had received funding from FAM and EQT Ventures and now after the series A, it has brought its total investment to €30 million.

Peltarion – committed to the advancement of humankind through AI

Founded in 2004 by Luka Crnkovic-Friis and Måns Erlandsson, Peltarion facilitates governments, non-profits and businesses with AI-driven adaptability for efficient operations. The startup believes the intricacies regarding food security, health & wellness or energy can be dealt smartly and swiftly through AI.

Owns credibility

Peltarion enables enterprises to build and install the most customised AI products and services in an affordable, easier and quick manner. Peltarion caters its AI solution to more than 300 companies and organisations including NASA, Tesla, iZettle, General Electric, Dell, BMW, Deutsche Bank, Lloyds Banking Group and the Universities of Harvard, MIT and Oxford.

Luka Crnkovic-Friis, CEO and co-founder of Peltarion elucidated, “AI is a technology that everyone should benefit from. Our mission is to make AI technology usable and affordable for all, and this investment will help us to grow and scale in order to do more good in the world.”

Stay tuned to Silicon Canals for more updates in the tech startup world.

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