Seattle-based startup Moondream recently secured $4.5 million in a pre-seed funding round to build a large language model for visual-related use cases. The company offers a “vision language model” that can answer questions about images, with 1.6 billion parameters. This allows the software to run efficiently on phones and edge devices. CEO Jay Allen stated that their customers are eager to integrate new vision features into their products, seeing Vision AI as a critical factor for success. Prior to Moondream, Allen worked at Amazon Web Services, Porch, Zynga, and Microsoft.
Before joining Moondream, Jay Allen spent seven years at Amazon Web Services where he helped build AWS IQ and various internal sales products. He was also the former CTO at Porch and a senior director of development at Zynga, with a decade-long tenure at Microsoft from 1994 to 2004. These experiences have equipped him with valuable insights into the technology and business aspects of the industry. Moondream’s CTO Vik Korrapati also brings nine years of experience at AWS to the table, further strengthening the team’s technical capabilities.
The funding for Moondream’s vision language model was provided by prominent investors such as Felicis Ventures from Silicon Valley, Microsoft’s M12 GitHub Fund, and Seattle-based Ascend. This backing highlights the potential and promise that investors see in Moondream’s innovative approach to visual AI. By focusing on creating a smaller, more efficient model with 1.6 billion parameters, Moondream is able to offer a versatile solution that can be easily implemented on various devices, catering to a wide range of industries such as transportation, retail, manufacturing, and security.
With a growing demand for advanced vision AI capabilities in various sectors, Moondream is well-positioned to capitalize on this trend by providing their vision language model to customers looking to enhance their products with cutting-edge technology. Jay Allen’s previous experience and expertise in the tech industry, combined with Vik Korrapati’s technical proficiency, give Moondream a competitive edge in developing and deploying AI solutions. The funding secured from established investors further solidifies Moondream’s position as an emerging player in the visual AI space, with the potential to make significant strides in transforming how businesses incorporate AI technology into their operations.
As Moondream continues to develop and refine its vision language model, the company’s focus on creating a scalable and efficient solution for visual-related use cases sets them apart in the competitive AI landscape. By leveraging their expertise and financial backing, Moondream aims to revolutionize the way businesses utilize Vision AI in various industries, paving the way for future advancements in the field. The successful pre-seed funding round is a testament to the industry’s confidence in Moondream’s vision and capabilities, signaling a bright future ahead for the Seattle-based startup as they work towards making AI more accessible and impactful in the visual domain.
