AI data labelling startup V7 raises £27m

V7 founders

V7, a startup that automates the process of labelling data, has raised $33m (£27.4m) in a Series A funding round co-led by Candian venture capital firm Radical Ventures and Singaporean state-holding company Temasek.

Founded in 2018, V7 describes itself as the data engine to build and improve AI for computer vision.

The London-based company offers an automated labelling process for clients to apply labels to large datasets.

V7 is looking to tackle the time drain for machine learning developers tagging and labelling data manually, which is a key part of training AI algorithms.

“The next generation of software won’t run on code, it will run on models fueled by training data. We let our clients easily turn human knowledge into AI models, improving the safety and accuracy of AI,” said V7 CEO, Alberto Rizzoli.

“This is incredibly powerful, and in the right hands, can literally save lives. If we want to build software that tackles unsolved frontiers in human health, or our climate, this is the only way.”

The investment from co-lead backer Radical Ventures follows a series of other investments from the Canadian VC into AI startups, including Xanadu.ai and Untether AI.

“As data proliferation continues, intelligent data orchestration is essential for businesses looking to deploy machine learning models,” said Parasvil Patel, a partner at Radical Ventures.

“V7 is well-positioned to become the industry standard for managing data in modern AI workflows,” Patel added.

Other participants in the Series A round included Air Street Capital, Amadeus Capital, and Partech, as well as a number of angels from machine learning backgrounds.