Illustration by Binay Sinha
H2O.ai, an open-source based artificial intelligence and machine learning platform, has raised $72.5 million in series D funding round led by Goldman Sachs
and China-based Ping An Global Voyager Fund.
The start-up, co-founded by Hyderabad-born Sri Satish Ambati in 2012, has raised a total funding of $147 million with this round. Wells Fargo, NVIDIA, and Nexus Venture Partners have also participated in the current round.
The company plans to accelerate innovation, expand sales and marketing globally with new funds. The fresh investment will also be used to further simplify AI for business users, the company added.
“We’re thrilled to partner with the H2O.ai team on their mission to democratize artificial intelligence,” said Jade Mandel, Vice President, Principal Strategic Investments Group at Goldman Sachs.
“Their deep technical bench and customer centricity make them well positioned to bring transparency and efficiency to the world of prediction.” he added. Mandel will be joining the H2O.ai board of directors as part of the deal.
“We are powering the imagination of every entrepreneur and business globally - we are making them the true AI superpowers,” said Ambati who is also the CEO at H2O.ai.