Cron AI funding
Deeptech startup, Cron AI announced on Tuesday that it has raised $4 million in the Series A round led by VenturEast and Kitaki Ventures. The round also saw participation from existing investor YourNest Venture Capital.
The startup plans to utilize the freshly raised funds to boost the delivery of senseEDGE™, a sensor-agnostic 3D data perception platform, which strives to meet the requirements of 3D sensing, perception, and processing in new markets.
The technology is said to be in advanced stages of development, with test kits ready to be dispatched to customers in the second half of 2021.
Established in 2015 by Tushar Chhabra and Saurav Agarwala, Cron AI has built a platform that allows innovators to produce smart solutions using 3D sensors to correctly understand and study the real world.
Commenting on the latest funding, Tushar Chhabra, Co-founder and CEO, 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,” he added.
Srikanth Sundararajan, General Partner, VenturEast, said, “There is a 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.”
Speaking about the investment, Girish Shivani, ED and Fund Manager, YourNest Venture Capital said, “We have seen Cron AI grow from strength to strength over the last few years as a sharply focussed Deeptech and AI platform, bringing 3D perception to reality through senseEDGE™. As a fully developed edge compute platform, it will fast track the adoption of 3D perception across multiple use cases globally.”
Cron AI appears to be an interesting platform for innovators in the deeptech space offering unique services. The startup seems to have amazing growth prospects. My best wishes to the team of Cron AI.Shishir Gupta, Founder and CEO, StartupLanes
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