Armenian Activeloop has raised $11 million in Series A funding

The Armenian company Activeloop has attracted $11 million in Series A financing, the company's founder Davit Buniatyan informs on his Facebook page.

According to him, Streamlined Ventures, Y Combinator, Samsung Next, Alumni Ventures and Dispersion Capital are among the investors.

“We're excited for the future as we will direct the funds to onboarding even more enterprise clients. We're grateful for the huge support of our customers, partners, Deep Lake users, the Activeloop team, and the open-source community that helped us build towards empowering anyone to organize complex unstructured data and accurately retrieve knowledge with AI," wrote Davit Buniatyan.

Activeloop creates an embedded, multimodal, large database that it structures in such a way that artificial intelligence can work with it.