Data labeling company Sapien has raised $5 million in a seed funding round.
The round featured contributions from investors such as Primitive Ventures, Animoca, Ravikant Capital and Yield Guild Games. Sapien will use the funds to enhance its AI to better guide and assist its data labeling, the company says.
The money will also go toward expanding Sapien’s blockchain infrastructure to build out its team of human labelers. “This funding will allow us to expand our team, expand our frontend labeling infrastructure and provide better quality data for our growing list of enterprise customers,” Sapien co-founder Trevor Koverko said Wednesday in a statement. Sapien uses rewards on the blockchain to essentially gamify data labeling, a process integral to advancing AI-powered language learning models like OpenAI’s Chat GPT. Data labeling involves tagging text, images, and various types of files with labels, enabling machine-learning models to interpret and learn from the data. The data labeling market reached a valuation of $6.8 billion in 2021 and is expected to soar to nearly $75 billion by 2032, according to data labeler Fact.MR. Meanwhile, Statista's data shows that the broader artificial intelligence market is projected to grow to $738 billion in 2029, up from a valuation of roughly $242 billion last year. Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures. © 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Please follow us on Google to support us United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Breaking Down Data Silos: How Apache Doris Streamlines Customer Data IntegrationLearn how Apache Doris breaks down data silos for insurance firms, streamlining customer data integration and boosting efficiency.
Read more »
Shift-Left Data Platforms in Early-Stage Startups: Strategies for Data-Driven SuccessLeft-Shift Data Platform: How to overcome early stage startup challenges to be Data-Driven
Read more »
Enterprise Data Technology Part 5 — Data Quality With AcumaticaAnalyst Robert Kramer continues his series on enterprise data technology with a detailed discussion of why data quality is so important, and how companies can achieve it.
Read more »
The Rise Of Data-Blind SaaS: Moving Toward Built-In Proactive Data ProtectionKarim Eldefrawy is Cofounder/CTO of Confidencial.io. He has 25+ years of experience in cybersecurity and 100+ published scientific works. Read Karim Eldefrawy's full executive profile here.
Read more »
Asia markets mixed ahead of consumer confidence data from Japan; investors await U.S. inflation dataInvestors in Asia will observe business confidence surveys out from Australia and consumer confidence data from Japan.
Read more »
This New Data Type Is 8 Times Faster Than JSON: Improve Your Semi-Structured Data AnalysisApache Doris provides a new data type: Variant, for semi-structured data analysis, which enables 8 times faster query performance than JSON with 1/3 storage.
Read more »