City
Epaper

Intel acquires Cnvrg.io to boost AI, ML operations

By IANS | Updated: November 4, 2020 10:20 IST

San Francisco, Nov 4 Chip maker Intel has acquired Israel-based full-stack data science platform Cnvrg.io to double down ...

Open in App

San Francisco, Nov 4 Chip maker Intel has acquired Israel-based full-stack data science platform Cnvrg.io to double down on its machine learning and AI operations.

According to a TechCrunch report, the Israeli company operates a platform for data scientists to build and run machine learning models which can be used to train and track multiple models.

"We can confirm that we have acquired Cnvrg. Cnvrg will be an independent Intel company and will continue to serve its existing and future customers," an Intel spokesperson said in a statement.

The financial terms of the deal were not disclosed.

Cnvrg, co-founded by Yochay Ettun (CEO) and Leah Forkosh Kolben, had raised $8 million from investors and is valued at around $17 million in its last round.

Cnvrg.io's platform works across on-premise, cloud and hybrid environments and it comes in paid and free tiers.

Intel also acquired SigOpt last week to boost its AI and ML research and development.

In May, the chip maker bought another Israeli company transportation-planning service Moovit for $900 million. The company applies AI and big data analytics to monitor traffic and give transit recommendations.

( With inputs from IANS )

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Open in App

Related Stories

TechnologyUS tariff hike to impact only 4.8 per cent of India’s total exports

Other SportsEngland-India series proves that nothing beats Test cricket’s emotional rollercoaster ride

BusinessIndia is rightly defending its national interests: Prabhash Ranjan

BusinessUS tariff hike to impact only 4.8 per cent of India’s total exports

NationalDelhi L-G inaugurates Mini Sports Complex in Sukhdev Vihar

Technology Realted Stories

TechnologyNew stations, policy reforms, FDI boost gas-based economy in India: Minister

TechnologyIndia's supply chain and logistics sector gears up for global leadership

TechnologyInstagram rolls out new 'Repost', 'Interactive Map', and 'Friend Tab' features

TechnologyMyntra sees 20 pc growth in handloom demand, boosts role as platform for India’s artisan, textile heritage

TechnologyMapMyIndia’s Q1 profit falls 6.5 pc sequentially, revenue slips