3LC Inc secures $1.8 Million funding
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3LC News Desk
3LC Inc Secures $1.8 Million in seed funding to revolutionize how machine learning models are trained.
USA/Norway, February 29, 2024 – 3LC Inc, a startup founded by seasoned serial entrepreneurs from gaming, high-performance computing, and artificial intelligence, has announced a successful $1.8 million seed funding round.
The infusion of capital is set to support the finalization of 3LC’s enterprise software and the self-serve platform for individual users, slated for release in Q2 2024. This significantly accelerates the company’s mission to transform how Machine Learning models are trained – boosting model performance and eco-efficiency by reducing training and inference cost and CO2 emissions.
This investment is supported by family offices and business angels from Europe and the US, all with deep expertise in software, AI, and data science. They join an existing consortium of external shareholders, led by EV Private Equity and Shell Ventures, reinforcing the company’s strong backing. Following this funding round, the 3LC team retains a 60% stake in the company.
“At a time when AI companies are proliferating at an unprecedented rate, 3LC stands out for its innovative approach to machine learning training,” said Trym Skeie, one of the new investors. “Their technology has the potential to support and improve the performance of AI models across the board, making them a key player in the future of the industry. “
“3LC Inc is at the forefront of reshaping the machine learning and data science landscape with our innovative software, ‘3LC’ (three lines of code). This revolutionary solution enhances the quality of training data, enabling the creation of smaller, more accurate models with lower costs and energy consumption,” said CEO/CTO and Co-Founder Paul Endresen.
By facilitating real-time, iterative improvements to training data, 3LC effectively tackles the challenges of data and model complexity. It empowers data scientists and subject matter experts to dynamically refine datasets to perfectly match their models’ requirements, boosting both accuracy and efficiency. With 3LC, achieving high-quality, cost-efficient model outcomes has never been more straightforward and accessible.
Founded in 2023, 3LC Inc boasts a highly experienced team of 17 employees across the USA and Norway. The company is currently in a pre-launch phase, working closely with early enterprise adopters such as Wenn (wenn.no), eSmart Systems (gridvision.com), and an undisclosed supermajor in the energy industry.
For further information, contact us at pr@3lc.ai
