Peroptyx, a machine learning start-up headquartered in County Mayo has raised €1.7 million in seed funding.
The funding was led by Delta Partners, along with Enterprise Ireland, the Western Development Commission and private investors from the US and Ireland.
Peroptyx is a platform that connects customers with its global network of data evaluators and data scientists, helping them build systems that better understand user intent.
The company said the latest financing will power Peroptyx's expansion plans, allowing the company to hire for several additional roles in data science, data quality, instructional design, software engineering, marketing, and global recruitment.
Peroptyx is expected to extend its existing market reach over the next 18 months, with ambitions to scale in 30 new markets across Africa, Asia and the Caribbean over the next three years.
Founded in County Mayo in 2018, Peroptyx has also established a presence in Houston, Texas.
Paul McBride, Co-founder and Managing Director said they are delighted to secure this investment.
"We operate on a global scale and with a level of transparency that reduces the risk for customers by addressing country-specific contractual, regulatory, security, and data privacy requirements in our platform.
"Our global network of subject matter experts delivers data and insights at the scale required by machine learning systems to function effectively in both on-premise and cloud-based environments.
"We also plan on using this funding round as a means of boosting our operational capacity in these areas," he said.
Dr Dennis Jennings, Chairperson and angel investor said the demand for solutions that build more trust and less bias into machine learning models and data is growing rapidly.
"We are excited by the possibilities this investment brings to Peroptyx, and believe we are well placed to address this growing market with our unique solutions," he said.