NEW YORK; Apr. 6, 2022 – Accenture (NYSE: ACN) has made a strategic investment, through Accenture Ventures, in Titan Space Technologies, an orbital compute platform that offers real-time monitoring and neural engine capabilities to accelerate the next generation of scientific technology innovations for enterprises, such as adaptive immune response, carbon capture and biomedical applications.
As part of Axiom Space’s Ax-1 mission, Titan successfully deployed and ran its first suite of machine learning models on HPE’s Spaceborne Computer-2 aboard the International Space Station (ISS).
“The burgeoning private and commercial space sector has created a once-in-a-generation opportunity for companies to leverage the unique R&D environment of space along with ever-increasingly sophisticated AI and other technologies to potentially solve our most pressing issues here on earth such as climate change, disease interventions, and materials shortages,” said Tom Lounibos, managing director, Accenture Ventures. “The launch of Titan’s first AI models to the ISS marks an amazing new milestone in AI-driven research and experimentation.”
”Working closely with Axiom and HPE, Titan was tasked with applying its space experimentation platform to a use case based on the new demands of a modern space station,” said Ashley Pilipiszyn, Titan co-founder and CEO, who has quickly transitioned from her previous role as OpenAI’s Technical Director – known for the successful launch of GPT-3 — to space entrepreneur. “Titan’s success demonstrates the applied AI capabilities critical for conducting space experimentation on orbital destinations and spacecraft now and in the future. We believe that companies across numerous industries can benefit from space experimentation, and that our involvement in Accenture Ventures’ Project Spotlight will help introduce Accenture clients to the compelling value proposition we offer.”
As the ISS U.S. National Laboratory points out in its website, “R&D onboard the ISS National Lab may provide insight into research questions that have eluded traditional laboratory experimentation in the fields of human health, biosciences and biotechnology, energy and biofuels, physical and materials science, engineering research and technology, and Earth and space imaging and observations.”
Titan is the latest company to join Accenture Ventures’ Project Spotlight, an engagement and investment program focused on investing in companies that create or apply disruptive enterprise technologies. In addition to funding, Project Spotlight connects emerging technology software startups with the Global 2000 to fill strategic innovation gaps, and offers extensive access to Accenture’s domain expertise and enterprise clients, helping startups harness human creativity and deliver on the promise of their technology.
In addition to the investment, Marc Carrel-Billiard, global lead for Technology Innovation at Accenture, has joined Titan’s Scientific Advisory Board. Terms of the investment were not disclosed.
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Titan Space Technologies was founded in 2021 in Palo Alto, CA with the mission of making space experimentation accessible via its orbital compute platform to enterprise customers. The company was founded by Ashley Pilipiszyn, Russell Foltz-Smith, and Rob Maigret - formerly of OpenAI, Wolfram Alpha, and The Walt Disney Company, respectively. For more information, visit https://titanspace.co/.
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