Singapore’s Datature scores $2.7m funding from Openspace

Datature, a fast-emerging player in the machine learning sector, has raised $2.7 million from Openspace, a regional tech investor and the early backer of Gojek amongst others. January Capital also participated in the round.

The fundraising follows early traction as Datature quickly establishes itself as one of the most exciting new end-to-end no-code MLOps platforms. Designed from the ground up, Datature’s full suite of solutions provides teams with the ability to annotate, augment, train and deploy computer vision models all without a single line of code.

“We are glad to partner with Openspace to expand our product development, and accelerate our go-to-market motion with support from their operation team. Additionally, we are excited to work with incoming strategic investors to assemble a full-stack, high-coverage ML solution for companies”, added Keechin Goh, co-founder of Datature.

Investors globally are taking note of the growth in the machine learning market, which is projected to have a CAGR of 43%, achieving US$30.6b in 2024. As companies recognise the integral role AI and machine learning have in aspects of their business operations, it’s becoming essential that all employees, particularly those with domain expertise but lacking in coding expertise, have access to the tools and solutions provided by machine learning.

This emergent skills gap has given rise to the citizen data scientist – employees that have valuable business knowledge but are in need of a way to easily transfer that into the AI world.

It was through observing this issue first-hand in large-scale businesses that led to the founding of Datature in 2020. The team behind it are machine learning engineers who met in 2013 and built the platform on the back of a series of impressive hackathon victories.

It is now enabling the next wave of machine learning projects by democratizing access to complex and deep-learning algorithms to empower enterprises to create their own AI breakthroughs at speed – ensuring teams can focus on key initiatives, without the burden of complex coding.

The latest funding will enable Datature to expand its platform offering in order to support more widespread use cases including video analytics, medical and point-cloud data ingestions, and a neural network cloud API for users to deploy AI capabilities anywhere.