NeuReality computes AI at scale
Israeli startup NeuReality, which develops AI compute for cloud data centers and edge nodes, comes out of stealth mode with an $8 million Seed announcement. The investment was led by Cardumen Capital, OurCrowd, and Varana Capital. The brains behind the new startup belong to CEO Moshe Tanach, former Director of Infrastructure at Marvell Israel, and AVP R&D at DesignArt, which was acquired by Qualcomm in 2012; Tzvika Shmueli (VP Operation), a former VP of Backend at Mellanox, and exec at $2 billion Intel acquired Habana Labs; and VP VLSI Yossi Kasus, who previously served as Senior Director Chip Design also at Mellanox and as VLSI Project Manager at EZchip.
Accelerating AI and DL
Despite huge advances in deep learning acceleration, hyperscalers such as Facebook, Microsoft and Amazon are facing scalability challenges with recommendation systems, digital assistants (such as Alexa and Siri), language-based applications (such as translations and natural language processing) and computer vision use cases. Enterprises are facing the limits of today’s solutions and experiencing spiraling costs with their growing deep learning demands on-premises and in the cloud.
The NeuReality platform enhances ultra-scale inference for AI applications. While chatting with Geektime, CEO Moshe Tanach explains that the crowded market competing for AI acceleration mostly focus on accelerating processing, and not the solution as a whole, from customer’s endpoint to the server’s. Tanach even claims that NeuReality’s products can compete with the NVIDIAs and Intels of the world. “Every AI processing consumer who developed early models based on CPU or GPU or even ASIC can still transition their solution on to NeuReality’s technology, once at scale.”
NeuReality was founded in 2019 and employs a team of 18 at its Israel-based R&D center. The company plans on doubling its team to further support product development, and expects to introduce its AI platform sometime this year.
Tanach added: “We are already consuming huge amounts of AI in our day-to-day life and it will continue to grow exponentially over the next five years. In order to make AI accessible to every organization we must build affordable infrastructure that will allow innovators to deploy AI-based applications that cure diseases, improve public safety and enhance education. NeuReality's technology will support that growth while making the world smarter, cleaner and safer for everyone. The cost of the AI infrastructure and AIaaS will no longer be limiting factors.”
DigitalOwl wants AI to analyze medical records for insurers
DigitalOwl, an Israeli startup developing AI-powered analysis of medical records for insurers, emerges from stealth with $6.5 million in Seed funding. The investment was led by IBEX Investors, with Fusion LA, Menora Mivtachim, and Mobileye founder Amnon Shashua also participating in the round.
Shortening the insurance process, saving you time
The DigitalOwl platform automates medical record analysis for insurers and underwriters through a unique combination of NLP technologies. The company stated that around 80% of claim processes get stuck at the medical record analysis stage. By using DigitalOwl, insurance companies can focus on what’s important - providing better decision making at a faster rate. Other than that, the folks at DigitalOwl tell us that its automation system can extract twice as many critical medical record findings, for better insurer decision making, than the standard manual process.
DigitalOwl was founded in 2018 by brothers Yuval Man, a lawyer by trade, and Amit Man, the AI expert. The company has 41 employees, who are split between Israel and U.S. offices. The company is planning on using the funds to expand the team and further advance product development. The company is a graduate of the Shin Bet (the Israeli Security Agency) accelerator and TAU Ventures - the Tel Aviv University venture fund. In addition, the Israeli AI company is also named alumni of the Israeli-U.S. Fusion LA program, and the Silicon Valley Plug And Play accelerator.