AURA Technologies, a fast-growing artificial intelligence company in Raleigh, has landed a $50 million contract with the US Army Research Office.
The contract includes:
machine learning algorithms for both time and frequency-domain data
It’s a big win in terms of financial and news impact for AURA, which launched in 2015.
AURA is coming off a big growth year in 2020 when it cracked the INC. 5000 list of fastest growing privately held companies at No. 125. AURA reported 2,933% growth in revenues over three years.
“The contract will allow AURA to expand into a number of critical AI areas, including advanced manufacturing and AI-based predictive maintenance and sustainment,” said Eric Strong, AURA’s “lead” of AI systems, in a statement.
“The full-scale implementation of an AI solution involves a spectrum of technologies that have been developed by AURA,” Strong added. “These span hardware, software, data preprocessing, communications, and network infrastructure. We have also focused heavily on computing resources for processing of the AI algorithms.”