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Deeplite Inc., a Montreal, Canada-based AI optimization software startup, closed a $6m seed financing round. The round was led by PJC with participation from Innospark Ventures, Differential Ventures, Ajay Shah, Executive Chairman, Smart Global Holding, and existing backers Somel Investments, BDC Capital and Desjardins Capital. The company intends to use the funds to accelerate R&D development, expand the team and accelerate market expansion for its software. Co-founded by Davis Sawyer, Ehsan Saboori and Nick Romano, Deeplite provides an optimization software to optimize DNN (Deep Neural N...

Deeplite raises $7.5 million CAD seed round to optimize deep neural networks Montréal-based Deeplite has raised $7.5 million CAD ($6 million USD) in seed funding as the startup looks to accelerate its software that optimizes deep neural networks. Nick Romano, CEO and co-founder of Deeplite, told BetaKit the round consisted of two components: the first was a $2 million USD convertible note completed in July 2020, which included participation from Desjardins Capital, Somel Investments, and BDC Capital through its Bridge Financing Program. Deeplite is collaborating with Yoshua B...

Deeplite raises $6M seed to deploy ML on edge with fewer compute resources One of the issues with deploying a machine learning application is that it tends to be expensive and highly compute intensive.  Deeplite, a startup based in Montreal, wants to change that by providing a way to reduce the overall size of the model, allowing it to run on hardware with far fewer resources. Today, the company announced a $6 million seed investment. Boston-based venture capital firm PJC led the round with help from Innospark Ventures, Differential Ventures and Smart Global Holdings. Somel Investments, BDC ...