Alpine Intuition raises CHF500k and appoints senior advisory team
- Alpine Intuition, founded by EPFL alumni, has unique technology allowing companies to quickly and cheaply launch and scale AI models
- CHF500k raised via a convertible note will be used to fund product and market development
- Sergio Giacoletto, former EVP at Oracle, and Mark Bagnall, former COO at EFG Bank, both join advisory board
Lausanne, Switzerland, October 4, 2021: AI-as-a-Service company Alpine Intuition today announces that it has successfully closed a CHF500,000 funding round, as well as established a senior advisory team.
Alpine Intuition helps companies to deploy Artificial Intelligence (AI) models. According to recent research*, 93% of companies use AI technologies and the USD300bn market is growing quickly, by around 18% a year*. However, there are still a lot of pain points for companies using AI technologies, notably in the deployment of models. 60% of companies need between a month and a year to deploy their models at scale*. This is where Alpine Intuition comes in, allowing companies to deploy models in hours, rather than months or years.
Set up by a team of post-graduates from École Polytechnique Fédérale de Lausanne (EPFL), Alpine Intuition boasts unique technology capabilities. Typically, deploying an AI model involves significant upfront cost, requires complex skills, and consumes around a quarter of developers’ time. Alpine Intuition has developed technology that enables AI models to be deployed automatically, without any specialist DevOps skills, in a pay-per-use cloud model which includes automatic testing, performance and usage monitoring.
Florin Dzeladini, Co-founder and CTO of Alpine Intuition, commented:
“Alpine Intuition is democratizing access to AI technologies. With our solution, it is simpler, quicker and cheaper to deploy AI models, enabling any business to capitalize on AI. But it goes further, bringing robustness and scalability to AI model deployment, creating an infrastructure where models can be accessed and queried by millions of users anywhere in the world.”
The company is already seeing strong traction, which enabled it to raise CHF500k to accelerate growth. This year, the business is expected to generate over CHF250k in revenues and over CHF 10 million by 2025. The new funding will be used principally for business and product development, including the market launch of iSquare, its flagship solution for AI deployment. The funding was raised through a convertible note from prominent Swiss angel investors.
Sebastian Savidan, Co-founder and CEO of Alpine Intuition, added:
“There is a considerable market opportunity for Alpine Intuition which over the last 12 months we have been able to validate with our first revenue-generating clients. We are now in a position to start to scale our go-to-market and solution, which this funding will enable us to do.”
The company has also appointed a senior advisory group. Mark Bagnall, former COO and CTO of EFG Bank in Switzerland, and Sergio Giacoletto, ex Executive Vice-President of Oracle Europe, EMEA, both joined the advisory board. Both also invested into the convertible note.
Commenting on the fundraise and his appointment to the advisory group, Sergio Giacoletto said:
“AI-as-a-Service is the logical continuation of the structural trends we have already seen towards Infrastructure-as-a-Service (IaaS) and Software-as-a-Service (SaaS). Alpine Intuition is at the forefront of this nascent trend, with a great team and cutting-edge technology. It is very exciting for me to be involved and I am looking forward to helping the company to realize its massive potential.”
*Sources: Semrush, IDC, Algorithmia