Signaloid, a computing platform allowing companies to understand real-time uncertainty for autonomous decisions, has raised a seed round of roughly €3.5 million led by IQ Capital, with additional investment from Type One and Creator Fund.
Signaloid will use the funding to scale its engineering implementations, allowing it to take on larger customers with both more demanding workloads and with a greater number of applications running on Signaloid’s Compute Engine platform. Ultimately, this will increase Signaloid’s revenue streams throughout its customer base.
Signaloid offers a computing platform that lets companies run their existing unmodified software yet obtain results that today require both costly software changes and time-consuming Monte Carlo analysis.
Founded in 2019 by Phillip Stanley-Marbell, Signaloid’s technology is used in applications including materials modelling, autonomous systems, computational finance, machine learning, and quantum computing.
Signaloid’s computing platform allows systems to automatically track variations in real-world data which today get hidden by averaging when being fed to computers. Best of all, systems built on Signaloid’s compute engine get this benefit simply by running their existing unmodified software, saving development time and achieving orders of magnitude faster computation in the process. These benefits make it easy for companies to quantify how their software’s outputs are affected by changes in their inputs and assumptions, allowing them to reduce risk, satisfy regulations, save money, and save lives.
Phillip Stanley-Marbell, Founder and CEO of Signaloid, says: “We are excited about the opportunity which the investment will provide for Signaloid to accelerate the adoption of our platform. The investment will allow us to further strengthen the team in strategic areas and to scale the number of use cases of our platform, from the hundreds of signed-up users we have on our developer platform today, to a larger number of production deployments of our cloud-based and edge-hardware compute engine, by our customers.”
The Signaloid Compute Engine is available to companies to integrate into their cloud-based or on-premises computing infrastructure. Signaloid also provides a Developer Platform, allowing individuals to try out its technology and build their own applications, with several hundred developers already signed up.
Ed Stacey, Managing Partner and Co-Founder of IQ Capital, says: “We’re delighted to be working with Signaloid on its pioneering approach for a new generation of computation infrastructure. Their platform allows its customers to track uncertainties in data, and model probability distributions – all without any modifications to customers’ existing software, and in real-time. We’re excited to see how uncertainty quantification is becoming widely adopted in industry and finance, resulting in far better and more reliable end products.”