March 12, 2019 - Assignment

AI company Peltarion completes USD 20 million financing round

Peltarion, a Sweden-based software development company specialized in artificial intelligence technology, has successfully completed a new financing round through which it raised approx. USD 20 million in total from existing investors (FAM and EQT Ventures) as well as a new investor (Euclidean Capital).

Peltarion provides a collaborative, graphical cloud platform for developing, managing and deploying deep learning systems at scale, and has everything needed to execute an AI project from start to finish in a single software platform.

Founded in 2004, over 300 companies and organizations have used Peltarion's AI technology including NASA, Tesla, iZettle, General Electric, Dell, BMW, Deutsche Bank, Lloyds Banking Group and the universities of Harvard, MIT and Oxford. Peltarion's mission is to make AI technology usable and affordable for all.

Peltarion was advised by Mannheimer Swartling.