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Bosch Hikes Investment in AI Startup
Robert Bosch GmbH’s venture capital unit has increased its investment in Allegro.AI, a Ramat-Gan, Israel-based development firm that specializes in deep-learning software.
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Robert Bosch GmbH’s venture capital unit has increased its investment in Allegro.AI, a Ramat-Gan, Israel-based development firm that specializes in deep-learning software.
Allegro describes its technology as the industry’s first end-to-end artificial intelligence lifecycle management system, with a focus on deep learning applied to computer vision. Potential automotive applications include autonomous vehicle systems and security cameras.
Allegro was launched in 2016 by co-founders Nir Bar-Lev (CEO), Moses Guttmann (chief technical officer) and Gil Westrich (vice president of research and development). Bar-Lev previously was a senior executive at Google. Guttmann holds several patents related to computer vision. Westrich has been a software engineering consultant for more than 20 years and co-founded other startups.
Bosch was a lead investor in Allegro’s Series A funding round. With the additional investment, Allegro says it has raised a total of $11 million. The company plans to use the funds to hire more engineers and further develop and commercialize its technology.
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