The Derby and Bangalore based deeptech firm raised the capital to accelerate the delivery of its 3D perception platform into new markets.
"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."
Octopus Ventures led the Series A investment, which will help accelerate international expansion and strengthen the technical team.
"Today there are more people streaming more video than ever before. Our customers recognize both the commercial opportunity and their social responsibility to optimize their video delivery pipelines with our pioneering technology. We are excited to partner with Octopus Ventures to tap into their network and expertize in building world-changing companies."
Mott MacDonald Ventures has joined the Clean Growth Fund and Green Angel Syndicate to back the energy flexibility platform.
"Strategic partnerships are very important for facing up to the challenge of decarbonisation, so it’s fantastic to close our Series A round with a like-minded investor that is as ambitious as we are. Alongside Mott MacDonald with the active support of the Clean Growth Fund and the Green Angel Syndicate, Piclo will continue to accelerate flexibility markets in the UK and internationally, grow our team and ramp up the development of new solutions"
