Boltzbit, a London-based startup that has created a platform for businesses to generate AI neural networks without coding expertise, has raised £1.6m in a seed funding round.
Boltzbit will use the capital, which came from Speedinvest and IQ Capital, to open an office in Berlin and grow its engineering team.
It will also scale up its generative AI platform for businesses. Generative AI is a type of artificial intelligence that creates new content from existing content, such as images and video. Neural networks detect underlying patterns in this content to create new but realistic versions.
Boltzbit is providing an off the shelf version that it says businesses can use to create neural network architectures “within minutes” – and without writing new code. The idea is that businesses can benefit from AI without having to spend time training models on large amounts of data.
Use cases for Boltzbit’s platform include improving neural search and recommendations for images and text, and automating data discovery for carbon accounting.
“Current generative neural networks are designed for data synthesis that is often highly limited in practice. This approach is also inefficient and counter-productive for training generative AI,” said Boltzbit co-founder and CEO Dr Yichuan Zhang.
“We’ve changed this with a breakthrough in our unique dynamic generative neural networks that learn many generative tasks shared by multiple real-world use cases all together, making our generative AI vastly more efficient and effective.”
Zhang founded Boltzbit along with Dr Jinli Hu, chief research scientist and Dr Hanchen Xiong, CTO.
Its team has previous experience at companies including Google, Twitter, and Microsoft.