SoftBank invests $10m in Adapdix for edge AI platform
Adapdix Corporation has received funding from SoftBank’s Opportunity Fund, pushing its total investment amount secured by Adapdix up to $10 million.
The company said the new funds will be used to build the next-generation Artificial Intelligence (AI) platform for the edge, enabling real-time predictive analytics and maintenance for enterprises.
Chad Harris, an investor from SoftBank’s Opportunity Fund, said, "We are excited to support Adapdix in its AI innovations and to participate in its development of new solutions for the edge – we believe the result will be a real game-changer.
“The SB Opportunity Fund is investing at this early stage because we recognize the differentiation of Adapdix' technologies and believe that it has the potential to become the leader in the fast-growing edge AI market."
Adapdix’ EdgeOps is a software-only solution that combines artificial intelligence and machine learning (AI/ML) analytics with a distributed, edge-based architecture.
"This investment is a validation of our vision for our next-generation AI platform,” said Anthony Hill, Founder and CEO at Adapdix.
“With the SB Opportunity Fund joining the team of investors, we now have the ability to scale up the business and develop the required ecosystem of partners and suppliers."
Adapdix helps to increase model accuracy, reduce network cost and congestion, and cut latency, by enabling control where the AI data is.
The company also enables ultra-low-latency, predictive maintenance and control. The company revealed that its EdgeOps will initially focus on serving manufacturing companies in the semiconductor, electronics and automotive sectors, with more industries planned for the future.