Connect with us

Technology

Bifrost raises $8M to accelerate AI’s ability to solve problems in the physical world

Published

2 months ago

on

SAN FRANCISCO, Oct. 31, 2024 /PRNewswire/ — Bifrost AI, a Generative 3D Data platform, raised $8 million in Series A funding to meet the growing demand for AI training data and 3D simulations. Its physically accurate data generation engine provides the vast real-world scenarios crucial in rapidly training, testing and adapting models in AI and Robotics. The round was led by Carbide Ventures, with participation from Airbus Ventures, Peak XV’s Surge (formerly Sequoia Capital India & SEA), Wavemaker Partners, MD One, and Techstars. The capital will be used to accelerate the commercialization of Bifrost’s product for heavy industries such as aerospace, maritime, manufacturing, and national security.

 

Bifrost raises $8M to accelerate AI’s ability to solve problems in the physical world

Today’s pressing challenges, such as labor shortages and escalating geopolitical tensions, primarily exist in the physical world. While AI has thrived in the digital realm, its potential in the physical domain remains untapped due to a lack of domain-specific training datasets. More than 95% of enterprises struggle to obtain high-quality training data at scale, often pouring millions into sensor deployments and dedicating months to manual data labeling—only to face uncertain outcomes. This struggle is one of the biggest barriers to effectively implementing AI systems in the physical world.

Bifrost’s software platform changes this by allowing teams to generate datasets in minutes using simulated 3D worlds. This allows teams to build new AI capabilities faster than ever, teach robots how to solve real-world problems, and adapt to new objects, tasks, and environments in hours instead of months.

Bifrost’s breakthroughs in Generative AI and 3D graphics allow users to create realistic, industry-specific data & scenarios at scale—no 3D expertise needed. Designed for AI developers, the platform offers fully controllable real-time 3D worlds in supercharged Jupyter notebooks. Traditional 3D simulators often fail to deliver realism, while 2D generative AI lacks the nuanced control necessary for sophisticated applications. Bifrost bridges this gap with a hybrid approach, combining an unprecedented level of precision with realism. Users harness a powerful Python library to program every element of their 3D worlds, from camera movements to environmental conditions, automating and fine-tuning their simulations with ease.

This has enabled their customers to build new Physical AI capabilities faster than ever. Autonomous boats that can safeguard shipping lanes from piracy, industrial robots that can assemble new parts with unmatched efficiency, and drones that can inspect thousands of electrical grids for defects—all without human intervention. These systems serve as a vital link that allows digital systems to engage with the real world.

After LLMs and image generators, Physical AI represents AI’s most important frontier yet.  However, building these systems is incredibly hard. Bifrost is making this process faster, cheaper, and more reliable, so teams can focus on what matters: solving real-world problems with AI.

“We work with some of the most technically demanding organizations in the world, solving some of the toughest problems. This includes major U.S. government organizations and leading enterprises in heavy industry. One example is NASA JPL, with whom we have been collaborating on several initiatives, including data generation engines for Moon and Mars exploration,” said Charles Wong, Co-founder and CEO of Bifrost AI.

“The market for robotics and autonomous systems is rapidly increasing. In the future, AI development will rely increasingly on synthetic data instead of real data. We believe the Bifrost team is uniquely positioned to enable this opportunity by bridging the data , allowing systems to be trained more efficiently and quickly by an order of magnitude. We expect their approach will unlock new use cases and opportunities, enabling AI to transform our physical world”, said Stephen Lee, General Partner at Carbide Ventures.

“As AI becomes increasingly prevalent, actively deployed across commercial and defense-related applications at an unprecedented scale, Bifrost stands out as a trusted partner, ready to support teams working on advanced robotics and autonomous systems,” adds Thomas d’Halluin, Airbus Ventures Managing Partner. “We are confident that Bifrost AI will unlock exceptional value at the intersection of 3D generative AI, advanced simulation, and design, which is already being used by major U.S. government organizations and leading global enterprises in heavy industry.”

“One of the fundamental challenges in AI and robotics is generalization—the ability to learn new skills and handle a variety of scenarios and tasks. Traditionally, adapting to new tasks could take months. But with Bifrost, that timeline has shrunk to just hours. This acceleration enables teams to build AI systems that can tackle a wider range of problems, unlock larger markets, and generate more revenue with less upfront data acquisition cost.” Aravind SK, co-founder and CTO of Bifrost AI.

Read more about us at bifrost.ai

View original content to download multimedia:https://www.prnewswire.com/news-releases/bifrost-raises-8m-to-accelerate-ais-ability-to-solve-problems-in-the-physical-world-302292864.html

SOURCE Bifrost AI, Inc

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Dun & Bradstreet India and NERAMAC sign MOU to foster MSME exporters’ growth in India

Published

46 minutes ago

on

December 23, 2024

By

MUMBAI, India, Dec. 23, 2024 /PRNewswire/ — Dun & Bradstreet India, a global leader in business decisioning data and analytics, has announced today that it has partnered with the Northeastern Regional Agricultural Marketing Corporation (NERAMAC) to issue D-U-N-S® Numbers to Farmer Production Organizations (FPOs) in the North Eastern region of India. 

The D-U-N-S® Number is a unique nine-digit identifier for businesses. This number is assigned once Dun & Bradstreet’s patented identity resolution process identifies a company as being unique from any other in the Dun & Bradstreet Data Cloud. It helps identify, validate, and link businesses worldwide.  

Speaking about the partnership, Preeta Misra, Senior Director – Credibility & Business Insights Group, ESG and SME, Dun & Bradstreet India said, “This is a valuable opportunity for all the Farmer Producer Organizations (FPOs) registered with NERAMAC to enhance their visibility and expand their reach both locally and globally. The Northeastern Region of India, known for its rich agricultural diversity and unique products, offers immense potential for FPOs to showcase their goods and connect with new markets. By leveraging this opportunity, these FPOs can not only gain visibility in the international markets but also contribute to the growth and development of the region’s agricultural sector on a broader scale.”  

Talking about the benefit of the D-U-N-S® Number, Misra further added, “The industry-recognized D-U-N-S® Number, an identifier for more than 590 million entities in the Dun & Bradstreet Data Cloud, provides information and linkage across business relationships, employers, and subsidiaries for more effective decision making.” 

Cmde Rajiv Ashok (Retd), Managing Director of NERAMAC said, “The logical progression for any Farmer Producer Company (FPC) is to seek opportunities and increase business. Given the geography, climatology and land holding patterns, the cultivated quantities of produce in Northeastern Region, relative to other regions of India, is relatively limited. However, the produce has its USP in terms of quality and limited exposure to chemical fertilizers/ pesticides. The obvious extrapolation from here leads to the requirement to export the produce to ensure higher income generation for farmers in FPOs/ FPCs. We believe that the Dun &Bradstreet’s D-U-N-S number will empower our FPOs/ FPCs to build credibility, increase visibility, expand across global markets, find potential customers, and identify growth opportunities. 

For details, you can get in touch with NERAMAC at cs@neramac.com or write to D&B at india@dnb.com. 

About NERAMAC: 

North Eastern Regional Agricultural Marketing Corporation (NERAMAC) Limited was incorporated in 1982 as a CPSE of the GoI and it now functions under the administrative control of Ministry of Development of the North Eastern Region (MDoNER). 

NERAMAC has evolved over the years and apart from its role as a marketing agency, it has in the recent years focused on capacity building. Accordingly, it is an Implementing Agency of the MoAFW 10,000 FPO Formation and Promotion scheme and has developed 220 FPOs. Significant steps have also been taken into the cold chain segment and establishment of food processing units both major and minor. Skill Training and entrepreneurship development is being undertaken in a big way with agencies like; MSDE, NSDC, FICSI, ASCI, NABARD, Min of Social Justice etc. With the mandate now extending into Fisheries and Dairy sectors, it is expected that in the near future, the reach of NERAMAC in NER would further extend. 

About Dun & Bradstreet: 

Dun & Bradstreet, a leading global provider of business decisioning data and analytics, enables companies around the world to improve their business performance. Dun & Bradstreet’s Data Cloud fuels solutions and delivers insights that empower customers to accelerate revenue, lower cost, mitigate risk and transform their businesses. Since 1841, companies of every size have relied on Dun & Bradstreet to help them manage risk and reveal opportunity. For more information on Dun & Bradstreet, please visit www.dnb.com. 

Dun & Bradstreet Information Services India Private Limited is headquartered in Mumbai and provides clients with data-driven products and technology-driven platforms to help them take faster and more accurate decisions across finance, risk, compliance, information technology and marketing. Working towards Government of India’s vision of creating an Atmanirbhar Bharat (Self-Reliant India) by supporting the Make in India initiative, Dun & Bradstreet India has a special focus on helping entrepreneurs enhance their visibility, increase their credibility, expand access to global markets, and identify potential customers & suppliers, while managing risk and opportunity.  

India is also the home to Dun & Bradstreet Technology & Corporate Services LLP, which is the Global Capabilities Center (GCC) of Dun & Bradstreet supporting global technology delivery using cutting-edge technology. Located at Hyderabad, the GCC has a highly skilled workforce of over 500 employees, and focuses on enhanced productivity, economies of scale, consistent delivery processes and lower operating expenses.  

Visit www.dnb.co.in for more information. Click here for all Dun & Bradstreet India press releases. 

Logo: https://mma.prnewswire.com/media/2314099/DB_Logo.jpg 

 

View original content:https://www.prnewswire.com/in/news-releases/dun–bradstreet-india-and-neramac-sign-mou-to-foster-msme-exporters-growth-in-india-302338182.html

Continue Reading

Technology

GDIN Support Strengthens South Korea’s Digital Twin Industry

Published

47 minutes ago

on

December 23, 2024

By

Investment results in 18 signed agreements and $17,210,000 in potential export deals

SEOUL, South Korea, Dec. 23, 2024 /PRNewswire/ — Global Digital Innovation Network (GDIN), the South Korean foundation formerly known as Born2Global Centre, is announcing the results of its investment in the overseas expansion of several digital twin technology companies.

Successfully fostering South Korea’s digital twin industry

Focusing on their global competitiveness and growth, GDIN has aimed to bolster ten Korean companies innovating in digital twin technology:

VEStellaLabSIMACRO7meerkatCare&CoTildaQUVEVSLTIM SolutionRECON LabsNAONWORKS

These efforts resulted in a total of 18 signed agreements, including MoUs, NDAs, and business contracts. There were 733 total export consultation cases conducted, leading to potential export deals worth up to $17,210,000.

Ji Ryung Chung, CEO of Tilda, a machine learning-based business optimization solution company, stated, “With the support of GDIN’s digital twin company assistance program, we were able to connect with potential business partners in the Middle East, including the UAE, and establish a collaborative relationship with a research institution in Luxembourg, laying the foundation for our entry into the European market.”

GDIN CEO Jongkap Kim remarked, “Digital twin technology companies possess the capability to blur the boundaries between the digital and physical worlds. Similarly, we strive to ensure that national borders are not barriers for digital technology companies either.” He emphasized that GDIN will continue to support these companies for their global success.

Incubating innovation

GDIN’s support included a range of resources and assistance. Firstly, its professional consulting services assisted with analyzing the current status of each company’s target markets, assessing the feasibility of market entry, and formulating market entry strategies.

To sharpen competitiveness in technologies offered, GDIN facilitated each company’s efforts to evaluate, improve, and comply with the digital twin solution standard ISO 23247. The foundation also provided assistance to complete software quality certifications based on the ISO/IEC 25023 quality standard.

Finally, support covered promotional activities such as participation in international exhibitions—such as GITEX Expand North Star 2024—to assist with identifying potential customers and business partners.

To learn more about GDIN, please follow their LinkedIn page: https://www.linkedin.com/company/gdinfoundation/

Or visit: www.gdinfoundation.com

About Global Digital Innovation Network

Global Digital Innovation Network (formerly known as Born2Global Centre), registered under the South Korean Ministry of Science & ICT (MSIT), is an independent foundation that promotes and fosters collaboration between next-level innovative companies from South Korea and the world.

Since 2013, we have established 160 international partnerships, supported 3k tech companies, conducted 20k consultation sessions, and helped companies raise $3.6 billion USD in investments. We are passionate about becoming the global leader for digital transformation through international partnerships, and we strive to redefine the future of digitalization on a global scale.

View original content to download multimedia:https://www.prnewswire.com/news-releases/gdin-support-strengthens-south-koreas-digital-twin-industry-302338189.html

SOURCE GDIN

Continue Reading

Technology

Siraj Finance PJSC signs an agreement with Azentio for iMAL core and digital financial services solution subscription optimization

Published

47 minutes ago

on

December 23, 2024

By

SINGAPORE, Dec. 23, 2024 /PRNewswire/ — Siraj Finance PJSC, a leading Islamic Finance Company in the UAE, has signed an agreement with Azentio, a pioneer in the core banking technology service provider. The agreement represents the collaboration for implementation of the core and digital banking solution to further enhance the operational capabilities and digitization of Siraj Finance’s product and service offerings. The step is directly in line with Siraj Finance’s goal of providing diversified Islamic financial products and services via channels that are innovatively utilizing latest technology while remaining customer centric and regulatory compliant.

Mr. Amjad Hijazi – Chief Operating Officer, Mr. Joseph Daniel – Chief Business Intelligence & Strategy Officer, Mr. Syed Moosa Kaleem Al Falahi – Chief Business & Investment Officer and Mr. Fazal Nassim – Chief Governance & Compliance Officer represented Siraj Finance, whereas Mr. Rahul Arora – Chief Sales Officer, Mr. Harkaran Singh – Senior Vice President, Middle East & Africa, Mr. Zaher El Khatib – Vice President Global Islamic Banking Sales, Mr. Alfred Quertier – Director Global Sales Engineering and Mr. Bhushan Kelkar – Vice President Sales represented Azentio, in the signing ceremony.

Commenting on the partnership, Mr. Amjad stated, “We are delighted to be working with Azentio as our technology partner of choice to empower our ongoing business growth. For us, iMAL and its comprehensive functionality coupled with the adherence to Islamic principles, align with our goals, allowing our team to streamline processes, enhance productivity and elevate the omnichannel customer journey.”

Mr. Rahul added, “We are extremely pleased to partner with Siraj Finance to deliver a user-friendly digital financial services experience to both their retail and corporate customers. This partnership reflects our ongoing commitment to empowering financial institutions in the region with cutting-edge technology designed to meet both current and future needs.”

About Siraj Finance

Siraj Finance is a private joint stock company based in Abu Dhabi and regulated by the Central Bank of the UAE. Established in 1999, it proudly offers a multitude of financial products, designed in compliance with the Sharia principles. It caters to Corporates, Small and Medium Enterprises (SMEs) and individuals, with the objective of providing a variety of tailored product and service options that are best fit for their aspirations and needs.

Photo: https://mma.prnewswire.com/media/2584254/Azentio_Siraj_Finance_PJSC_signing.jpg
Logo: https://mma.prnewswire.com/media/2423342/Azentio_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/siraj-finance-pjsc-signs-an-agreement-with-azentio-for-imal-core-and-digital-financial-services-solution-subscription-optimization-302336280.html

Continue Reading

Trending