Instill AI Secures $3.6M in Seed Funding to Revolutionise Data Analytics

February 1, 2023

Instill AI Secures $3.6M in Seed Funding to Revolutionise Data Analytics

London-based Instill AI has secured a significant boost in funding, announcing a $3.6 million Seed round led by RTP Global, with Lunar Ventures, Hive Ventures, and notable angel investors participating. This injection of capital aims to propel the company's mission to revolutionise the handling of unstructured data through accessible AI solutions.

Instill AI, founded in 2020 by Ping-Lin Chang and Xiaofei Du, is on a mission to tackle the complexities of unstructured data. In a world inundated with diverse data types – images, videos, audio, and text – organisations face the challenge of extracting meaningful insights efficiently. While deep learning has made strides in deciphering unstructured data, existing data tooling often falls short, being either prohibitively expensive or locked behind proprietary methods.

With the new funding, Instill AI intends to address this gap by enhancing its Versatile Data Pipeline (VDP), an open-source project designed to streamline the process of converting unstructured data into actionable insights. By adopting a low to no-code approach, Instill AI aims to democratise AI, making it accessible to companies of all sizes.

CEO Ping-Lin Chang emphasises the importance of accessibility in analysing unstructured data: "Unstructured data can be more analysable if AI is more accessible. At Instill AI, we are committed to making this happen."

Instill AI's VDP project has already gained significant traction within the developer community, amassing over 600 stars on GitHub since its launch just five months ago. This widespread interest underscores the demand for solutions that simplify the extraction of value from unstructured data.

The strategic investment from RTP Global, along with support from Lunar Ventures, Hive Ventures, and industry veterans like Charles Songhurst and Mehdi Ghissassi, signals confidence in Instill AI's vision. Gareth Jefferies, Partner at RTP Global, acknowledges the challenges of deploying AI services and praises Instill AI's approach: "Ping-Lin and his co-founder Xiaofei found a way to help companies of all sizes overcome that pain and seamlessly bring AI into the modern data stack to unlock the value of unstructured data."

Looking ahead, Instill AI plans to utilise the funding to expand its team and launch a fully managed cloud service for VDP, slated for release later this year. By removing the burden of infrastructure maintenance, Instill AI aims to empower organisations to harness the potential of unstructured data without the complexities traditionally associated with AI implementation.

In conclusion, Instill AI's successful fundraising round marks a significant milestone in its journey to democratise AI and revolutionise the handling of unstructured data. With a commitment to accessibility and innovation, Instill AI is poised to make waves in the data analytics landscape, unlocking new possibilities for organisations worldwide.

Written by: