INSUBCONTINENT EXCLUSIVE:
Once upon a time, it looked like cloud-based serviced would become the central hub for analyzing all IoT data
But it didn&t quite turn out that way because most IoT solutions simply generate too much data to do this effectively and the round-trip to
the data center doesn&t work for applications that have to react in real time
Hence the advent of edge computing, which is spawing its own ecosystem of startups.Among those is Swim.ai, which today announced that it has
raised an $11 million Series B funding round let by Cambridge Innovation Capital, with participation from Silver Creek Ventures and Harris
The round also included a strategic investment fromArm, the chip design firm you may still remember as ARM(but don&t write it like that or
their PR department will promptly email you)
This brings the company total funding to about $18 million.Swim.ai has an interesting take on edge computing
The company SWIM EDX product combines both local data processing and analytics with local machine learning
In a traditional approach, the edge devices collect the data, maybe perform some basic operations against the data to bring down the
bandwidth cost and then ship it to the cloud where the hard work is done and where,if you are doing machine learning, the models are trained
Swim.ai argues that this doesn&t work for applications that need to respond in real time
Swim.ai, however, performs the model training on the edge device itself by pulling in data from all connected devices
It then builds a digital twin for each one of these devices and uses that to self-train its models based on this data.&Demand for the EDX
software is rapidly increasing, driven by our software unique ability to analyze and reduce data, share new insights instantly peer-to-peer
& locally at the ‘edge& on existing equipment
Efficiently processing edge data and enabling insights to be easily created and delivered with the lowest latency are critical needs for any
organization,& said Rusty Cumpston, co-founder and CEO of Swim.ai
&We are thrilled to partner with our new and existing investors who share our vision and look forward to shaping the future of real-time
analytics at the edge.&The company doesn&t disclose any current customers, but it is focusing its efforts on manufacturers, service
providers andsmart city solutions.Swim.ai plans to use its new funding to launch a new RD center in Cambridge, UK, expand its product
development team and tackle new verticals and geographies with an expanded sales and marketing team.
