Eric Liaw, a London-based partner at VC firm IVP, told CNBC that companies at the application layer of AI haven't garnered as much investor hype as firms in the infrastructure layer.
"The amount of money that the application layer companies need to raise isn't as large — and therefore the valuations aren't necessarily as eye popping" as companies like Nvidia," Liaw told CNBC last month.
Riparbelli said that money raised from the latest financing round would be used to invest in "more of the same," furthering product development and investing more into security and compliance.