Indian-based deep-tech firm raised $4m in Ventureast co-led round

CIOReviewIndia Team | Wednesday, 12 May 2021, 04:57 IST

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Indian-based deep-tech firm raised $4m in Ventureast co-led roundCronAI a 3D data perception platform, announced it has raised US$4 million in its series A funding round led by Ventureast and Kitaki Ventures. Existing investor YourNest Venture Capital also participated in the financing round, according to a statement.

Cron AI enables innovators to develop 3D-sensor solutions to accurately perceive the real world. These solutions are critical for applications such as autonomous vehicles, mobility, logistics, robotics, intelligent transport infrastructure, smart spaces and security.

It will use the new funds to accelerate the delivery of SenseEdge, a platform that aims to address the requirements of 3D sensing, perception and processing in new markets. Cron states the technology is at present in advanced stages of development, with test kits already set to be shipped to customers within the second half of the year.

Srikanth Sundararajan, general partner at Ventureast, stated “There is high demand for deep learning deployment on the edge for real-time data inferencing, including 3D image extraction,” which is presently investing out of its fifth fund that focuses on enterprise tech and consumer technology.

Cron AI’s 3D data perception platform senseEDGE, aims to make it approachable for new industries to access 3D lidar-point cloud-processed data and build applications for the years to come.

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