Moondream, a Seattle startup, has raised $4.5 million in a pre-seed round to build a large language model for visual-related use cases. The company offers a “vision language model” that can answer questions about images. The model is small by today’s standards, operating with 1.6 billion parameters, which allows the software to run on phones and edge devices. CEO Jay Allen stated that customers are eager to incorporate vision features into their products across various industries such as transportation, retail, manufacturing, and security.
Jay Allen, the CEO of Moondream, has a background in Amazon Web Services (AWS), where he helped build AWS IQ, a marketplace for on-demand AWS talent, as well as internal sales products. He was also the former CTO at Porch and a senior director of development at Zynga, having spent a decade at Microsoft from 1994 to 2004. Moondream CTO Vik Korrapati, who previously spent nine years at AWS, brings additional expertise to the team. The team’s experience in leading tech companies allows Moondream to leverage their knowledge and network to build and grow their vision language model platform.
Allen highlighted the importance of Vision AI as a critical factor in the success of Moondream’s customers. With the demand for new vision features on the rise, the company aims to provide innovative solutions for businesses looking to enhance their products and services. The ability of Moondream’s vision language model to answer questions about images opens up opportunities for applications in various sectors. This positions the startup as a key player in the emerging field of visual-related technologies.
The pre-seed round raised by Moondream attracted investments from prominent firms such as Silicon Valley’s Felicis Ventures, Microsoft’s M12 GitHub Fund, and Seattle-based Ascend. These investments signal confidence in the potential of Moondream’s vision language model platform and its ability to address the growing demand for Vision AI solutions in the market. The financial support from these investors will enable Moondream to further develop and scale its technology, paving the way for future growth and expansion in the visual-related use cases sector.
With a focus on building a language model specifically designed for visual-related use cases, Moondream is poised to make a significant impact on the industry. The company’s innovative approach to incorporating Vision AI into various products and services reflects a commitment to driving advancements in technology. By leveraging their team’s expertise and experience, Moondream aims to deliver cutting-edge solutions that meet the evolving needs of businesses across different sectors. As the startup continues to grow and expand its platform, it is well-positioned to lead the way in transforming the landscape of visual-related technologies.
Overall, Moondream’s successful pre-seed round funding and strategic partnerships with leading investors underscore its potential to disrupt the visual-related use cases market. With a strong team of industry veterans at the helm, the company is well-equipped to capitalize on the increasing demand for Vision AI solutions in sectors such as transportation, retail, manufacturing, and security. As Moondream continues to innovate and develop its vision language model platform, it is poised to shape the future of visual-related technologies and drive growth and success for its customers in the rapidly evolving tech landscape.
