AI start-up Trellis Data launches its expansion into the US market
This Canberra start-up’s artificial intelligence platform is being used for everything from protecting Australia’s agriculture sector to helping the nation’s defence forces.
Australian AI and machine learning specialist Trellis Data has begun a global expansion and is opening its first international office in the US, following a new round of funding from US-based Ultratech Capital Partners and CSIRO-backed venture capital fund Main Sequence.
The start-up, based in Canberra, has grown profitably, with revenue lifting by an average of more than 100 per cent year-on-year for the past four years, according to chief executive Michael Gately.
The company’s technology, dubbed the “Trellis Intelligence Platform”, provides real-time trusted AI and has been deployed across a number of sectors including the Australian government and defence, logistics and consulting services.
“We are delighted to announce our launch in the United States, marking our first international location. Our leading technology has already proven a success in Australia, Europe and Asia, and we’re excited to bring these innovative solutions to customers in the US,” Mr Gately said.
“The opportunities of machine learning are now being realised around the globe and organisations are demanding AI tools that are straightforward to use, that can integrate with existing enterprise systems, and, most importantly, produce results they can trust.
“We see immense opportunity to expand our technology adoption in the United States.”
Mr Gately said Trellis Data’s machine learning platform relies on a variety of data sources including video, person identification, edge decision making, sounds, documents, structured and unstructured data, and can be used by both technical, and non-technical staff.
Its deep-learning platform explains every decision it makes to ensure it can be trusted, he said.
It’s being deployed to help detect hitchhiker pests on containers at Australia’s shipping ports, make decisions at the edge for the Australian Defence Force, determine the compliance of documents against international standards as well as understand the reasons for a customer’s change of behaviour.
Trellis Data, which did not disclose its valuation, raised $6m from investors, including Ultratech Capital Partners and CSIRO-backed venture capital fund Main Sequence.
The funding round is the latest cash splash for the burgeoning AI sector. Statistics from GlobalData’s Financial Deals Database show that AI start-ups received $US52.1bn ($78.1bn) globally in 2022.
Main Sequence, led by start-up veteran and managing partner Bill Bartee, has a mission to launch 1000 Australian “deep tech” start-ups.
It’s backed Trellis Data as well as a number of quantum computing start-ups and companies aiming to reduce carbon emissions and tackle world hunger. Its limited partners include Hostplus, Horizons Ventures, Temasek as well as Mutual Trust and Morgan Stanley Wealth Management.
“Trellis Data’s groundbreaking technology will enable AI to be implemented across a number of key markets, bringing trusted AI to every organisation, in Australia and around the world,” Mr Bartee said.
Mr Gately said that the fresh capital puts Trellis Data in a strong position to launch in the United States – which it will do later this month.
“The UltraTech team are very close to the defence and intelligence community in the US and are helping us grow, particularly as we base our office in Virginia,” he said.
“Because we have been growing rapidly and profitably, we haven’t had the need to raise much capital. We are currently in discussions with strategic investors in the United States to accelerate growth even faster but we are not in any hurry for new capital.
“The US is a key market for the growth of machine learning. This expansion means our existing clients with operations in the US will benefit from having our team on the ground, and US-based companies will have access to the world-leading machine learning and artificial intelligence we provide.”