Cron AI, a DeepTech company building a 3D Data Edge perception platform recently announced that the company has raised $4 million as part of its Series A funding. The round was led by VenturEast and Kitaki Ventures, along with participation from existing investor, YourNest Venture Capital.
With this funding, Cron AI will be able to accelerate the delivery of senseEDGE into new markets to power the core of autonomous systems and automated machines to shape the future. Cron AI’s senseEDGE technology addresses the acceleration requirements of 3D sensing, perception, and processing at the sensing edge.
Founded by Tushar Chhabra and Saurav Agarwala, the DeepTech startup has developed a real-time AI, deep learning-enabled edge inferencing platform accelerating algorithms and neural networks on the product edge.
Tushar Chhabra, co-founder and CEO at Cron AI, said, “The 3D sensing and automated systems markets are moving towards moon-shot growth, as evidenced by the recent successful SPACs across the value chain. This new investment demonstrates the confidence our investors have in our approach and vision towards becoming the heart of an autonomous future. We are now poised towards global expansion to deliver truly adaptive perception to innovators and allow them to accelerate productization, mitigate time and investment risks, and bring standardization to an extremely fragmented market.”
Its real-time scalable and dynamic hardware and software architecture enables innovators to develop intelligent solutions using 3D sensors to accurately perceive and learn the real world, which is critical for applications like autonomous vehicles, mobility, logistics, robotics, intelligent transport infrastructure, smart spaces and security applications set to benefit from consistently high-quality decision-making data.
Commenting on the same, Dr Srikanth Sundararajan, General Partner at VenturEast, said, “There is high demand for deep learning deployment on the edge for real-time data inferencing, including 3D image extraction. Many industries are rapidly shifting away from the traditional centralized cloud model to the compute at the edge. Our investment thesis on this space is strong, thus we were keen to invest in Cron AI with their specific focus on edge computing, and differentiated IP as it relates to perception technology. We believe in the vision of Cron AI’s founders, and the unique IP differentiated solution for addressing computation scaling of the edge leveraging FPGA platforms.”