Deep-tech company iSIZE Technologies has today announced the closure of its first seed funding round, raising a total of £740k from figures including Patrick Pichette, partner at Inovia Capital and ex- Google CFO; TD Veen AS, a notable Norwegian family office; and a number of other CDL investors. This round brings iSize total funding to date to over £1.3m.
The round was led by some of the leading tech investors of the inaugural Creative Destruction Lab programme at Oxford University’s Saïd Business School. iSIZE graduates the accelerator programme this month alongside only nine others, from over 250 applications, after an intensive nine-month programme.
iSIZE specialises in deep learning for video delivery and has developed a deep perceptual 'precoder' - a software solution that uses AI-trained to optimise visual quality in order to save video bitrate during encoding. Its flagship product, BitSave, available both as a SaaS platform at bitsave.tech and for on-premise use, reduces encoding bitrates by up to 40%, while at the same time enhancing video perceptual quality. This results in substantial data, energy and cost savings for both the company hosting the video and the end consumer.