In the wake of the pandemic, enterprises across the world have doubled down on artificial intelligence (AI) and machine learning to accelerate their digital journeys. The digitisation demand has called for new processes to split, train, test, develop, and deploy machine learning models. MLOps, or machine learning operations, is born out of this need.
Developments like Microsoft’s Nuance acquisition (for $19.7 billion) and the growing interest of venture capital firms in the sector point to the high-growth potential of MLOps startups.
For instance, in April 2020, New York-based MLOps startup Hive raised $85 million in funding at a valuation of $2 billion. MLOps startup Comet raised $13 million in a Series A funding round led by Scale Venture Partners. The list goes on.
From the beginning of 2021 through April 12, MLOps space saw close to 442 investment deals worth $11.65 billion. In 2020, AI and ML startups witnessed 1,601 funding rounds worth $27.49 billion, as reported by TechCrunch.
According to Deloitte, MLOps platforms could generate annual revenue of $4 billion by 2025. AI, if implemented successfully, could generate about 20% of a company’s earnings. the report added.
In India, however, the MLOps is still a fledgling sector. Below, we have listed MLOps startups developing systematic tools and processes for building and deploying machine learning models.
Aayush Kumar founded San-Francisco and Noida-based MLOps startup OpsLyft in 2019. The company leverages artificial intelligence and analytics to deliver insights and automate routine workflows that help software or machine learning teams build, test, and deploy any workload on the cloud with no downtimes and at the lowest possible infrastructure spend.
OpsLyf claims to ease cloud management. In July 2019, the company had raised pre-seed funding from undisclosed investors. It counts Inshorts, Innovaccer, Blackbuck, and Meesho as its clients.