Founded by ETH scientists, LatticeFlow, has developed the first platform for next-generation artificial intelligence, with customers such as the US Army, Siemens, and a number of Fortune 500 companies. LatticeFlow was ranked both as the #1 Swiss AI startup and a TOP100 AI company in the world in 2022.
LatticeFlow – Award-winning ETH spin-off for next-generation AI secures $12 Million and expands next to INSAIT in Sofia
The global industry invested nearly $500 billion in artificial intelligence (AI) systems in 2022 alone. Unfortunately, 87% of these will not reach production – while AI models perform remarkably well in lab environments, they often fail when deployed in the real world. For example, a number of AI models for diagnosing COVID-19 based on chest X-ray scans achieve excellent accuracy on test datasets but fail to accurately diagnose patients in real-world environments. In mission-critical deployments, these mistakes have fatal consequences – just this year, autonomous cars killed three people because the autonomous navigation system failed to recognize white trucks against the bright sky. The exceeding difficulty of creating trustworthy and working AI systems that perform well in the real world is a major roadblock to the widespread adoption of the latest AI advances across all industries – manufacturing, transport, medicine, and security.
To solve this major challenge, Bulgarian scientists Prof. Martin Vechev and Dr. Petar Tsankov co-founded LatticeFlow, together with their colleagues from ETH Zurich: Prof. Andreas Krause and Dr. Pavol Bielik. The company’s mission is to bring AI to the real world and to fulfill this goal it has built the first scalable platform to automatically diagnose and fix AI data and model issues, addressing a critical roadblock to the wider adoption of AI.
Rapid growth in 2022
Just a year after its initial seed funding of $2.8M, LatticeFlow secures a new investment of $12M from world-leading deep tech US and European VCs: Atlantic Bridge, OpenOcean, and FPV Ventures. This comes after the rapid growth of the company in 2022, achieved with the company’s first product, used by the US Army, Germany’s Federal Office for Information Security, Fortune 500 US and European companies (such as Siemens), as well as world leaders in AI such as Intenseye and Voxel AI. This year, LatticeFlow also became the #1 Swiss AI company (chosen among more than 170 companies), and ranked among the top 100 AI companies in the world (CB Insights AI100).
“The growth potential for LatticeFlow is unprecedented. Our product is indispensable for virtually any company, across any industry, aiming to create and use AI”, said Tsankov. “Our ambition is to establish LatticeFlow as the leading platform in the world for developing real-world AI models.”
New office in Sofia next to INSAIT
In addition to funding, LatticeFlow announced that it will open an office next to INSAIT – Eastern Europe’s first world-class institute in the field of computer science and artificial intelligence, established in partnership with Switzerland’s ETH Zurich and EPFL.
“The deep collaboration between top research institutes such as Stanford, MIT, ETH Zurich, EPFL, Technion, and others, and high tech companies such as LatticeFlow sits at the core of world’s most innovative ecosystems such as those found in Israel, Switzerland, and the U.S.. Thus, attracting LatticeFlow to INSAIT is a key step towards positioning Bulgaria as a high-tech destination.” said Prof. Martin Vechev, architect of INSAIT.
LatticeFlow is an award-winning ETH Zurich spin-off founded in 2020 by a globally-recognized team of AI experts whose mission is to bring AI to the real world. To achieve this mission, the company has built the first scalable platform to automatically diagnose and fix data and model issues, addressing a critical roadblock to the wider adoption of AI. LatticeFlow customers include Fortune 500 companies such as Siemens Mobility, as well as AI scaleups such as Intenseye, Voxel AI, and Carscan. The company was featured on the prestigious CB Insights AI100 List of Most Innovative AI companies in 2022, also winning the Swiss AI Award in 2022 and the US Army Global AI Award in 2021.