Intel has acquired the Israeli artificial intelligence startup Cnvrg

Intel has acquired the Israeli artificial intelligence startup Cnvrg, according to a report tonight (Wednesday) on the TechRunch website. The transaction amount was not disclosed. Intel has approved the acquisition, saying Cnvrg will be an independent company under Intel - and will continue to serve its existing customers.
Cnvrg.io was founded in 2015 by Yochai Aton (CEO) and Leah Kolban (VP of Technology). The company is located in Jerusalem, and has raised about $ 8 million to date. One of its investors is Erel Margalit's JVP fund.
The company has developed a platform for running machine learning models for data professionals. It helps them keep track of models, train and compare them - and thus helps organizations build artificial intelligence and machine learning products more efficiently and easily. Intel is investing more and more in the field of artificial intelligence, including the acquisition of the Israeli AI chip company Hana Labs for $ 2 billion at the end of 2019. Now Intel will be able to provide its customers in the field of artificial intelligence with the services offered by Cnvrg.