Data may be the new oil, but refined data is the fuel for AI

Logical Clocks, the enterprise vendor for Hopsworks - a data platform for scale-out data science and AI, has raised €1.25 million in seed funding from Inventure, Frontline Ventures, and AI Seed.

The funding round was led by Timo Tirkkonen of Inventure, now chairman of the board, who said “Hopsworks is a continuation of Scandinavia’s history of producing transformative computing platforms - this time for Big Data and AI. This funding will scale engineering to accelerate innovation, while keeping the focus on building out the customer base.”

Logical Clocks provides Enterprise support for the open-source Hopsworks platform to solve the data problem for Deep Learning and AI, where a new class of platform with support for GPUs is needed to refine ever increasing volumes of data into training data, the fuel for AI systems. Hopsworks’ Big Data platform, Hops, was shown to be the world’s fastest Hadoop in work done in collaboration with Spotify and Oracle. Hopsworks’ existing customers are in a variety of verticals from finance, to the vehicle industry, to telecoms, and healthcare.

Logical Clocks AB was co-founded by Assoc. Prof Jim Dowling, Prof Seif Haridi and researchers at KTH University and RISE SICS in Stockholm. “Our mission is to help enterprises transform their data into intelligence, whether that data is on-premises or in the cloud,” Dr. Jim Dowling (CEO) said. “Hopsworks is a user-friendly platform for data science that can be used to build end-to-end pipelines that take raw data and refine it progressively until you have a model ready for use in production. Hopsworks will manage your valuable assets for AI in the industry’s first enterprise feature store, managing features for generating training data, experiment versioning for repeatable data science, and model management.”