Total amount raised
$33.5 Millions
Latest funding date
10/01/2020
Location
Matroid has successfully raised funds through multiple rounds, with the most recent being a Series B round closed on October 13, 2020. The company is backed by notable investors, including New Enterprise Associates and Intel Capital.
Keep reading to explore the intricacies of Matroid's fundraising journey and the investors backing this innovative platform.
What Is Matroid?
Matroid, founded in 2016 by Reza Zadeh, is a leading company in the fields of artificial intelligence, big data, computer vision, and machine learning. The company is headquartered in Palo Alto, California, and employs between 11 and 50 people.
Matroid offers a no-code computer vision platform that allows users to create, combine, and use computer vision detectors without programming. The platform is designed for various applications, including defect detection, quality and safety inspections, video analysis, and worker safety, making it versatile for enterprise use.
How Much Funding Has Matroid Raised?
- Seed Round
- Amount Raised: $3.5M
- Date: January 2017
- Lead Investors: New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of their no-code computer vision platform.
- Series A
- Amount Raised: $10M
- Date: September 2017
- Lead Investors: Intel Capital, New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and expand its applications in various industries.
- Series B
- Amount Raised: $20M
- Date: October 2020
- Lead Investors: Energize Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into manufacturing and industrial IoT sectors.
Total Amount Raised: $33.5M. Current Valuation: Not publicly disclosed.
Key Investors
- Energize Capital
- Details: Energize Capital is a venture capital firm that focuses on investing in companies innovating in the energy and industrial sectors. They leverage digital technologies to drive efficiency and sustainability.
- Investment Focus Areas: Energy, industrial sectors, digital technologies
- Notable Investments: Volta Charging, Aurora Solar
- Intel Capital
- Details: Intel Capital is the strategic investment arm of Intel Corporation. They focus on technology startups in areas such as artificial intelligence, autonomous systems, and other cutting-edge technologies.
- Investment Focus Areas: Artificial intelligence, autonomous systems, cutting-edge technologies
- Notable Investments: Cloudera, Vuzix, Movidius
- New Enterprise Associates (NEA)
- Details: NEA is a global venture capital firm that invests in technology and healthcare companies at all stages of growth. They have a long history of supporting innovative startups.
- Investment Focus Areas: Technology, healthcare
- Notable Investments: Robinhood, Coursera, 23andMe
What's Next for Matroid?
Matroid's future looks promising as it leverages its recent $20 million Series B funding to expand into the manufacturing and industrial IoT sectors. This move aligns with industry trends that emphasize the growing importance of computer vision and machine learning in industrial settings. The potential for growth in these sectors is substantial, offering Matroid a significant opportunity to become a leading provider in these new markets.
With the successful Series B round, Matroid is well-positioned for future fundraising opportunities. The company may seek additional funding to further enhance its market presence and technological capabilities. However, challenges such as integrating their technology into new sectors and facing competition from other companies in the space could pose hurdles. Despite these challenges, Matroid's strategic focus and innovative platform provide a solid foundation for continued growth and success.
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