Start-up Doubleword, specializing in AI self-hosting, experiences resurgence with a £9 million funding injection.
Rewritten Article:
Doubleword Raises Nearly £10m in AI Self-Hosting Venture
Get ready to hear about a £9m funding round, led by Europe's top VC firm Dawn Capital, for Doubleword – previously known as TitanML. This British startup, specializing in AI self-hosting solutions, has caught the attention of investors and tech experts alike.
Our source reveals that Doubleword, created to tackle the infamous 'inference problem' faced by tech companies worldwide, is Europe's rising star in artificial intelligence. Inference refers to the process of making predictions or executing tasks like answering questions or generating images using live data and trained AI models.
Peter Kyle, the science, innovation, and technology secretary, stated, "AI will fuel our economy's growth and provide opportunities for people around the nation. It's essential businesses have the confidence to harness AI's potential. Doubleword is paving the way for companies to do just that, adopting AI swiftly and efficiently to reach their goals."
Kyle added, "This investment shows that UK-born tech talent is leveraging AI to create a competitive edge in the global marketplace, and it highlights our efforts to make the tech sector a hub for innovation and investment."
The investment round will be publicly announced on Thursday. Stay tuned for updates!
Meryem Arik, Doubleword's co-founder and CEO, shared her thoughts, "Businesses want to build AI-powered applications, not AI infrastructure. Doubleword eases the heavy workload of inference at scale, allowing companies to go from idea to manufacturing with minimal technical debt."
Arik further explained, "We enable our customers to deploy any AI model with a single click, supporting the latest models and hardware without being tied to a single provider."
This new investment will be used to grow Doubleword's workforce as it establishes partnerships with major tech firms like Snowflake and Nvidia.
Key backers of Doubleword include AI entrepreneurs like Florian Douetteau, the CEO of Dataiku, and Olivier Pomel, the CEO of Datadog.
Douetteau, an AI entrepreneur, said, "Imagine businesses eager to self-host AI, if only the 'expertise' and 'cost' didn't appear overwhelming. Doubleword transforms self-hosting from a daunting task into a breeze, revolutionizing the AI market for enterprise customers."
Haakon Overli, general partner at Dawn Capital, described Doubleword as "the most exciting startup in this space" and "a company scaling a product that businesses incredibly need at this point in time, with the perfect expertise to do so."
In-the-Know: Doubleword, originally called TitanML, is revolutionizing AI by offering an easy-to-use self-hosted inference platform for businesses. This platform allows companies to control their AI models, deploying them on any hardware and avoiding vendor lock-ins. Doubleword addresses the 'inference problem' by providing the necessary flexibility, management, scaling solutions, and infrastructure relief, enabling businesses to focus on delivering value from their AI models.
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- The newly coined 'Doubleword' company, formerly known as TitanML, has raised nearly £10m in an AI self-hosting venture, backed by Dawn Capital, setting a stake in the global market for artificial-intelligence technology.
- Doubleword, Europe's rising star in AI, simplifies the notorious 'inference problem' faced by tech companies by offering an easy-to-use platform, enabling businesses to control, deploy, and manage their AI models on any hardware without concerns of vendor lock-ins.
- With the recent investment, Doubleword is set to expand its workforce and forge partnerships with major tech companies like Snowflake and Nvidia, aims to make self-hosting AI an easier, more accessible solution for enterprise customers.
- According to AI entrepreneurs, such as Florian Douetteau, CEO of Dataiku, Doubleword is transforming the AI market by making self-hosting an achievable, hassle-free task, democratizing AI for businesses worldwide.
