FalconAI, a startup co- founded by three graduates of the Department of Electrical Engineering, has recently raised $2,500,000 in seed funding. Founders Olcay Yılmazçoban, Berk Özer and Orhan Tunç Çeliker describe the company’s work as the development of advanced AI algorithms with disruptive applications in various sectors.
FalconAI’s novel AI algorithms overcome two main bottlenecks of the AI paradigm: the need for massive amounts of data and the lack of memory transfer. To accelerate the learning process of AI, FalconAI utilizes both neuroscience-inspired techniques mimicking the human method of learning and advanced optimization frameworks exploiting the structure in the data to transfer knowledge from one domain to another. The company is currently focusing on one-shot and transfer learning techniques in recommendation systems and computer vision.
“Our cutting-edge algorithms are poised to transform business processes in various sectors, especially where there are limited amounts of data,” say the founders. “The FalconAI Team is comprised of top AI researchers and engineers located in Boston and İstanbul. We hope to leverage the investment to expand the team to become a global leader in AI.”