Turi

Founded in 2013 in Seattle, US, Turi specializes in machine learning solutions. The company was acquired by Apple in August 2016 for USD 200 mn.Turi Create, the company's flagship product, is a machine learning framework that simplifies the development of custom machine learning models. It offers functionalities such as image classification, object detection, recommendation systems, and activity classification, catering to sectors like mobile app development and data analytics. Turi Create allows developers to build and deploy models efficiently, supporting platforms including iOS, macOS, watchOS, and tvOS.Turi Create generates revenue through software licensing and support services, which may include subscriptions for access to its machine learning tools. Clients, predominantly technology firms and developers, engage through direct licensing agreements that allow them to incorporate machine learning capabilities into their applications. The revenue model emphasizes direct-to-consumer engagements, particularly with developers and businesses seeking to enhance their offerings with advanced machine learning features.Following its acquisition by Apple, Turi's future growth strategy focuses on leveraging Apple's resources to enhance product offerings and expand market reach. While specific upcoming products have not been detailed, the integration with Apple's ecosystem presents opportunities for new developments in machine learning solutions. There are plans to target further expansion in the North American and European markets. The funds from the USD 200 mn acquisition will likely support initiatives aimed at enhancing product features and market penetration.

1. Series B

   Jan 8, 2015

   Amount

   $19M

   Investors

   Locked

2. Series A

   May 14, 2013

   Amount

   $6.8M

   Investors

   Locked