Sweden-based Seven District, an investment company, announced that it has made a significant minority investment in Devant, a provider of human-centric synthetic training and validation data used in various industries to improve machine learning performance.
The announcement comes four months after Devant announced its partnership with Seeing Machines, a provider of in-camera-based driver monitoring systems (DMS), aiming to reduce traffic accidents by using synthetic data to enhance the detection of hazardous driver behaviours.
Devant: Provides high-quality synthetic data
Established in 2021 and led by Richard Bremer, Devant provides high-quality synthetic data to support Machine Learning networks’ training, validation, and testing.
The company claims to deliver lifelike 3D simulations, helping Machine Learning developers generate real-life scenarios.
As a result, it allows businesses to improve the performance of their computer vision applications by reducing bias and enabling new machine learning features and applications.
The company has developed cutting-edge technology to generate large volumes of computer-generated synthetic training and validation data in a few days.
Machine Learning development often involves slow and expensive real-world data collection activities. However, synthetic data has the potential to remove these barriers.
Computer-generated data generated by the company, increases the ease of access to the required data.
Devant employs more than 20 people and is headquartered in Norrköping, Sweden.
Seven District: Focuses on Swedish companies
Seven District is an investment firm focusing on early to mid-stage Swedish companies with the potential to become market leaders in a well-defined niche with up to approximately SEK 500M in revenue.
The strategy is to offer operational support, leveraging the founding team’s experience while providing an international network and financial strength to partner with entrepreneurs.
Seven District’s portfolio comprises Kvaser, Rapid Images, Qamcom, ACRE, Ocean Collective, Devant, Easycom, Visiba Group, Sightic Analytics and Intelligent Aerial.
The early-stage accelerator 7Dx includes Viospatia, Incipientus, 24 Duty, Klint, Evam, enrouteQ and IRRIOT.
“Devant has in a very short timeframe, developed a state-of-the-art technology, allowing for volumes of diversified high-quality synthetic data which drastically reduces development cycles and increases the quality of Machine Learning systems in life-critical environments such as in-cabin monitoring.” says Niklas Ivarsson, Partner & Chairman of the board at Seven District and new board member at Devant.
“By assembling a dedicated team of seasoned veterans, Devant and Richard have created a unique position, which Seven District is thrilled to be a part of. We look forward to joining Devant on its continued journey in this exciting space,” adds Ivarsson.
01
From port to startup fort: How Lars Crama is ‘Making it Happen’ in Rotterdam