Cervin Ventures
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ThirdAI raises $6M to democratize AI to any hardware
Houston-based ThirdAI, a company building tools to speed up deep learning technology without the need for specialized hardware like graphics processing units, brought in $6 million in seed funding.
Neotribe Ventures, Cervin Ventures and Firebolt Ventures co-led the investment, which will be used to hire additional employees and invest in computing resources, Anshumali Shrivastava, Third AI co-founder and CEO, told TechCrunch.
Shrivastava, who has a mathematics background, was always interested in artificial intelligence and machine learning, especially rethinking how AI could be developed in a more efficient manner. It was when he was at Rice University that he looked into how to make that work for deep learning. He started ThirdAI in April with some Rice graduate students.
ThirdAI’s technology is designed to be “a smarter approach to deep learning,” using its algorithm and software innovations to make general-purpose central processing units (CPU) faster than graphics processing units for training large neural networks, Shrivastava said. Companies abandoned CPUs years ago in favor of graphics processing units that could more quickly render high-resolution images and video concurrently. The downside is that there is not much memory in graphics processing units, and users often hit a bottleneck while trying to develop AI, he added.
“When we looked at the landscape of deep learning, we saw that much of the technology was from the 1980s, and a majority of the market, some 80%, were using graphics processing units, but were investing in expensive hardware and expensive engineers and then waiting for the magic of AI to happen,” he said.
He and his team looked at how AI was likely to be developed in the future and wanted to create a cost-saving alternative to graphics processing units. Their algorithm, “sub-linear deep learning engine,” instead uses CPUs that don’t require specialized acceleration hardware.
Swaroop “Kittu” Kolluri, founder and managing partner at Neotribe, said this type of technology is still early. Current methods are laborious, expensive and slow, and for example, if a company is running language models that require more memory, it will run into problems, he added.
“That’s where ThirdAI comes in, where you can have your cake and eat it, too,” Kolluri said. “It is also why we wanted to invest. It is not just the computing, but the memory, and ThirdAI will enable anyone to do it, which is going to be a game changer. As technology around deep learning starts to get more sophisticated, there is no limit to what is possible.”
AI is already at a stage where it has the capability to solve some of the hardest problems, like those in healthcare and seismic processing, but he notes there is also a question about climate implications of running AI models.
“Training deep learning models can be more expensive than having five cars in a lifetime,” Shrivastava said. “As we move on to scale AI, we need to think about those.”
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Dark emerges from stealth with unique ‘deployless’ software model
Dark has been keeping its startup in the dark for the last couple of years while it has built a unique kind of platform it calls “deployless” software development. If you build your application in Dark’s language inside of Dark’s editor, the reward is you can deploy it automatically on Dark’s infrastructure on Google Cloud Platform without worrying about all of the typical underlying deployment tasks.
The company emerged from stealth today and announced $3.5 million in seed funding, which it actually received back in 2017. The founders have spent the last couple of years building this rather complex platform.
Ellen Chisa, CEO and co-founder at the company, admits that the Dark approach requires learning to use her company’s toolset, but she says the trade-off is worth it because everything has been carefully designed to work in tandem.
“I think the biggest downside of Dark is definitely that you’re learning a new language, and using a different editor when you might be used to something else, but we think you get a lot more benefit out of having the three parts working together,” she told TechCrunch.
She added, “In Dark, you’re getting the benefit of your editor knowing how the language works. So you get really great autocomplete, and your infrastructure is set up for you as soon as you’ve written any code because we know exactly what is required.”
It’s certainly an intriguing proposition, but Chisa acknowledges that it will require evangelizing the methodology to programmers, who may be used to employing a particular set of tools to write their programs. She said the biggest selling point is that it removes so much of the complexity around deployment by bringing an integrated level of automation to the process.
She says there are three main benefits to Dark’s approach. In addition to providing automated infrastructure, which is itself a major plus, developers using Dark don’t have to worry about a deployment pipeline. “As soon as you write any piece of backend code in Dark, it is already hosted for you,” she explained. The last piece is that tracing is built right in as you code. “Because you’re using our infrastructure, you have traces available in your editor as soon as you’ve written any code,” she said.
Chisa’s co-founder and company CTO is Paul Biggar, who knows a thing or two about deployment, having helped found CircleCI, the CI/CD pioneering company.
As for that $3.5 million seed round, it was led by Cervin Ventures, with participation from Boldstart, Data Collective, Harrison Metal, Xfactor (Erica Brescia), Backstage, Nextview, Promus, Correlation, 122 West and Yubari.
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Former Formation 8 GP Shirish Sathaye joins Cervin Ventures
Longtime venture capitalist Shirish Sathaye has quietly joined early-stage investor Cervin Ventures as a general partner.
Most recently, Sathaye was a general partner at Formation 8, the embattled venture firm co-founded by Palantir’s Joe Lonsdale, Brian Koo (a scion of the Koo family, owners of the electronics giant LG) and former Khosla GP Jim Kim. Formation 8 announced in 2015 that it would not raise a third fund and would begin winding down operations.
Sathaye, who’s been in the VC business since 2001 as a GP at Matrix Partners, then at Khosla Ventures, remains a partner in Formation 8’s sophomore fund. His previous investments include Nutanix, Samsung-acquired Grandis, McAfee-acquired Solidcore Systems, cybersecurity startup Vectra Networks and data storage provider Panzura.
He’d only been at Formation 8 for one year when the firm began to crumble. As we now know, conflict between the firm’s founding partners led to its demise. Lonsdale quickly raised $425 million for a spin-off fund called 8VC; Koo, in a similar fashion, brought in $357 million for Formation Group and Kim followed up with a $200 million fund called Builders.
Sathaye, for his part, had grown tired of the “bigger is better” mentality and opted to leave the business of big VC for good.
He began making angel investments and advising startups at Cervin Ventures, a pre-Series A VC fund focused on the enterprise. It closed a $56 million fund in 2017, its largest vehicle to date.
“Smaller funds, in general, make better decisions,” Sathaye told TechCrunch. “At a larger fund, there are more people around the table to make decisions. I think returns are better when there are fewer people making those decisions.”
Watching funds swell past the billion-dollar mark and investors deploy the “spray and pray” strategy was a turn-off, Sathaye said. Startups have more access to capital than ever before, yet most companies can get off the ground with very little funding, thanks to recent innovations like Google Cloud and Amazon Web Services.
“With AWS, companies can bring products to market quickly and they can reach their customers with much less money,” Sathaye said. “If you look at it just from a returns profile, the smaller funds will get better cash-on-cash returns simply because companies don’t need that much money to be successful.”
Palo Alto-based Cervin is led by two other GPs, Preetish Nijhawan and Neeraj Gupta. It invests $1 million to $2 million in early-stage startups. Sathaye says he’ll be focused specifically on the security, mobile, cloud and data verticals.
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