UK-based startup that makes it easier for companies of all sizes to adopt AI technology, Humanloop has raised $2.6 million in seed funding. The round was led by venture capital firm Index Ventures, with participation from Y Combinator, LocalGlobe and Albion.
Founded in 2020 by a team of computer scientists from UCL and Cambridge, and alumni of Google and Amazon, Humanloop aims to tackle the hugely time-consuming problem of humans needing to draw on their judgement and domain expertise in order to label the massive data sets required to train machine learning algorithms. The company draws on innovations in computer science that make it possible to automate the labelling of data, as well as to build robust models from smaller data sets and continuously update those models.
Hot on the heels of the funding, the startup has unveiled a new product. Its latest intelligent annotation product, Programmatic, lets an expert such as a lawyer, doctor or banker capture some relevant area of knowledge in a few simple rules, which the software can then apply at an enormous scale across a large data set.
CEO Raza Habib said: “People would be shocked if they knew what language-based AI was capable of now. But getting the data into a form that the algorithm can use is the biggest challenge. With Humanloop, we want to democratise access to AI and enable the next generation of intelligent, self-serve applications – by allowing any company to take its domain expertise and distil it efficiently in a machine learning model.”