Cron AI, a deeptech startup, will use these funds to increase the delivery of senseEDGE™ — a sensor-agnostic 3D data perception platform.
On Tuesday, Cron AI a deeptech startup building a 3D data edge perception platform, raised $4 million about Rs 29.3 crore in Series A round which was headed by VenturEast and Kitaki Ventures. Existing investor YourNest Venture Capital also participated in the round.
The technology is said to be in advanced stages of development, with test kits already set to be shipped to customers in the second half of 2021.
Cron AI was founded by Tushar Chhabra and Saurav Agarwala in 2015, it helps innovators to develop intelligent solutions using 3D sensors to accurately perceive and learn the real world.
“The 3D sensing and automated systems markets are experiencing exponential 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” said Tushar Chhabra, Co-founder and CEO, Cron AI.
Adding to the statement he said “we are now more dedicated towards global expansion to deliver truly adaptive perception to innovators and allow them to accelerate productization, mitigate time, and investment risks, and bring standardisation to an extremely fragmented market”.
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 centralised 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 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,” said Girish Shivani, ED and Fund Manager, YourNest Venture Capital.