Petuum Brings In $93 Million

Artificial intelligence startup Petuum closed $93 million in Series B financing from SoftBank Group and Advantech.

Petuum is a software infrastructure and ecosystem provider that enables AI for enterprise. Its development platform and gallery of AI building blocks work with any programming language and any type of data, allowing managers and analysts quickly to build AI applications without coding, while engineers and coders can further re-program applications as needed. According to the company, Petuum allows many AI applications and hardware to be created and managed from a single laptop or terminal, driving higher productivity, better service, lower costs, and faster delivery.

The company revealed that Petuum is working with beta testers in different industries so that outsiders can develop and deploy solutions on top of the platform in the future.