Florida Funders has invested in Gigantor’s $1MM Series Seed convertible note from the Florida Funders’ Fund 2, LLC., supporting Gigantor’s focus on business development including sales, partnerships and onboarding new team members. Also participating in the round was the Florida Institute (Institute for Commercialization of Florida Technology) who partners closely with Florida Funders for their fund management.
Gigantor Technologies, Inc. created GigaMACS, a patented AI technology designed to qualitatively accelerate convolutional and deep neural networks (CNNs/DNNs) without changing the model. GigaMACS can run CNNs 200x faster than existing platforms, has extremely low latency (microseconds vs. milliseconds for other solutions), and potentially combats climate change by consuming at least 90% less energy than other platforms. GigaMACS operates at the input pixel rate, regardless of the model complexity, and provides real-time inference without dropping frames or data, or reducing mathematical precision. Gigantor’s Technology solution is positioned to disrupt the domain of the artificial intelligence movement in computer vision and other sensory input models with massive acceleration of Neural Networks without data loss. Finally, real-time inference for complex models without reducing accuracy is possible.
“The potential opportunities for widespread adoption of this technology is boundless,” says Tom Wallace, Managing Partner at Florida Funders. “Florida is once again proving it is a national contender for producing top tech startups, and Florida Funders is proud to support the founder behind this home-grown company.”
Florida Funders was impressed with Gigantor Technologies’ Co-Founder Don Gaspar CEO and Mark Mathews CTO. Don has a strong engineering background through his experiences as CTO at Yapstone and ImproveNet (HomeAdvisor); he was also an engineering lead at Apple way back. Mark was employee #17 at Microsoft and helped originate MultiPlan (MS Excel); he has a strong history of technical innovation.
“This is an exciting time for Gigantor as we continue to scale,” says Don Gaspar, CEO at Gigantor Technologies. “The opportunity for industries to adopt our technology is nearly unlimited across sectors from auto, defense and aerospace to visual manufacturing inspection, pharmaceutical research, and more. We look forward to having Florida Funders’ support as we expand artificial intelligence acceleration capabilities. We couldn’t have asked for a better partner.”
Further elevating the Sunshine State into the Startup State, this is the 23rd investment (15th Florida-based) into tech startups from the Florida Funders’ Fund 2.
Florida Funders is constantly and actively looking to grow and add investors to their network. They have fully deployed their Fund 1 and are hard at work seeking new investment opportunities. For more information on Florida Funders, please visit floridafunders.com. Keep up with the latest news from Florida Funders on Facebook, Twitter, and LinkedIn.