The company's senseEDGE technology addresses the acceleration requirements of 3D sensing, perception, and processing at the sensing edge. With this funding, Cron AI said that it will look to accelerate the delivery of senseEDGE into new markets.
Cron AI has developed a real-time AI, Deep Learning-enabled edge inferencing platform accelerating algorithms and neural networks on the product edge that enables innovators to develop intelligent solutions using 3D sensors to accurately perceive and learn from the real world, which is critical for applications like autonomous vehicles, mobility, logistics, robotics, intelligent transport infrastructure, smart spaces and security applications that will benefit from consistent high quality decision-making data.
The senseEDGE platform is in advanced stages of development, with several patents already filed and ‘test kits’ set to be shipped to global customers in H2 2021. With this funding, Cron AI plans to develop its technology further and accelerate the delivery of its platform senseEDGE in currently untapped markets.
Commenting 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.”
The round was led by VenturEast and Kitaki Ventures, along with participation from existing investor, YourNest Venture Capital.