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Mumbai, Maharashtra, India – Business Wire India

Dataloop, a leading platform for AI data management and annotation, today announced that eight leading angels from India, led by Saket Agarwal of Onnivation, have joined the existing investors in the company’s latest founding round. With participation from Umang Bedi, Virendra Gupta, Bikram Singh Bedi, Gaurav Gupta, Salil Musale and Saket Agarwal, the investment will help to enable the expansion of Dataloop’s presence in India and further reinforces a larger trend of cooperation between Israel and India in the technology sector. To date Dataloop has raised $16 million in funding following the completion of an $11 million Series A round.

As the global AI market approaches $190 billion in value by 2025, India has seen its own AI sector grow rapidly. But despite AI’s breakneck growth, 96% of companies still struggle with proper data labeling when they attempt to implement AI. Dataloop plans to address this gap with its robust data management solutions designed specifically to solve this challenge.

Dataloop helps enterprises that are developing AI in India and across the globe with their customizable SaaS platform that weaves together human and machine intelligence to train and label unstructured data. The company’s advanced platform feeds ‘real-time’ data back to human counterparts while simultaneously streamlining the workflow with automated annotation tools.

With Dataloop, organizations operating in a range of verticals – including retail, agriculture, and autonomous vehicles – can successfully deploy AI in production and focus on their core business. The pandemic has further fueled this growth making it a critical investment. “The data annotation industry is rapidly growing in India and we are extremely excited to be expanding Dataloop’s presence here," said Eran Shlomo, CEO of Dataloop. “Israel and India have developed a strong partnership and we look forward to working together and the opportunities it will bring to the Indian market."

“Onnivation has been spearheading the growth of India-Israel technology partnerships with over 15 Israeli deep tech companies that are solving challenges for India's largest and most influential corporates and tech unicorns. We are fortunate to have backed Eran and the Dataloop team and thrilled to join their quest on transforming the Computer Vision and AI industry," said Saket Agarwal, Founder and Managing Partner of Onnivation. “Strategic investments like Dataloop will help accelerate innovation and technology exchanges between the two countries, helping us strengthen the digital India agenda," added Saket. “It’s a great day for Dataloop and a great day for the India-Israel friendship!"

About Dataloop

Dataloop is the leading SaaS platform for AI data annotation and data management focusing on accelerating vision AI. Dataloop’s proprietary platform works to streamline the process of preparing unstructured data by weaving together both human and machine intelligence and to power enterprises successfully in production AI. Founded in 2017, Dataloop eliminates the data challenges companies face allowing them to focus resources on their core business and help make machine learning systems accessible, affordable and scalable. Dataloop is based in Tel Aviv, Israel. For more information, please visit: https://dataloop.ai/


About Onnivation

Onnivation, invests and partners with deep tech Israeli SAAS companies and drives their business for India. Our companies help India’s largest and most influential corporations drive digital growth using the best of Israeli technology Ecosystem. Within a short span of 5 years, Onnivation has become a front runner in growing business relations between Israel and India. Onnivation has partnered with 15+ Israeli companies serving over a 100+ Indian corporates & start-ups solve challenges around Cloud, Data and Cyber Security. To know more about Onnivation, visit www.onnivation.in

Media Contact Details

Tamara Raynor-Cote, Dataloop, tamara@headline.media, IL: +972 58 676 6793; US: +1 914 336 4557; UK: +44 203 769 3469

Jermina Menon, Onnivation, jermina@onnivation.in, +91-9845170690

Disclaimer: This content is distributed by Business Wire India. No HT journalist is involved in creation of this content.

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