TLDR:
– Kakao Ventures recently backed SqueezeBits, a Korean startup focused on making AI models faster and cheaper to run.
– SqueezeBits raised $2 million in pre-Series A funding and is valued at around $15 million.
Two-year-old startup SqueezeBits, based in South Korea, aims to lower the high costs associated with running AI models. With a recent $2 million pre-Series A funding round, which included investors such as Kakao Ventures, the company is focused on democratizing AI technology by making it more affordable and efficient.
The startup’s CEO, Hyungjun Kim, explained that AI models are often overparameterized, containing unnecessary data that can increase computation costs and memory usage. SqueezeBits focuses on optimizing AI models to make them three to five times faster and reduce memory usage by four times, ultimately making them more cost-effective for companies.
While SqueezeBits faces competition from other companies optimizing AI models, its unique approach and focus on efficiency sets it apart in the market. As the demand for AI technology continues to grow, SqueezeBits aims to bridge the gap between fast-progressing AI algorithms and the hardware that supports them, making AI more accessible and scalable for businesses.
