deepset Raises $14 Million & Announces Cloud Platform
deepset has raised $14 million in a Series A funding round led by GV. Additionally, they have announced a new platform for natural language processing, deepset Cloud.
Created on April 29|Last edited on April 29
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deepset is best known for their open-source Haystack framework for natural language processing build for modularity. Haystack offers a variety of utilities to support the backend of NLP powered applications, and generally makes it easier to plug in pre-trained models into your own custom NLP pipeline. In addition to Haystack, deepset provides a number of other resources including pre-trained lanuage models, datasets, and more.
In an blog post released yesterday, deepset announced not only a successful round of Series A funding, but also the early-access release of deepset Cloud. deepset Cloud brings all the core components that make up an NLP pipeline into one platform, taking the stress out of setting up all the complex pieces from backend model processing to user-facing demo UIs.
Who's funding deepset and where's the money going?
A Series A funding round led by GV with additional participation from System. One, Lunar Ventures, Harpoon, Acequia Capital, and additional individual investors raised a total of $14 million for deepset. This raised money will be going towards the continued development of their open-source Haystack framework, as well as furthering the newly announced deepset Cloud platform.
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