Pittsburgh - based start - up Petuum has raised $ 93 m in a series B funding round led by SoftBank and featuring participation from existing investor Advantech Capital , among others . Petuum , staffed by researchers from Carnegie Mellon University , is developing tools to enable companies to use machine learning and artificial intelligence , and is currently working on solutions for the healthcare and education sectors . Petuum is working to create a platform for building machine learning and deep learning applications through its own custom virtualization and operating system. CEO Eric Xing said the new funds will be used to hire engineers , salespeople and managers to help commercialise its software .
Pittsburgh - based start - up Petuum has raised $ 93 m in a series B funding round led by SoftBank and featuring participation from existing investor Advantech Capital , among others . Petuum , staffed by researchers from Carnegie Mellon University , is developing tools to enable companies to use machine learning and artificial intelligence , and is currently working on solutions for the healthcare and education sectors . CEO Eric Xing said the new funds will be used to hire engineers , salespeople and managers to help commercialise its software .