Cron AI secures $4m Series A funding led by VenturEast and Kitaki Ventures to fuel global expansion
The Derby and Bangalore based deeptech firm raised the capital to accelerate the delivery of its 3D perception platform into new markets.
Cron AI builds a 3D data edge perception platform known as senseEDGE. The technology helps power autonomous systems and automated machines.
Cron AI has secured £2.8m in Series A funding to support its international expansion starting in Europe. The round was led by VenturEast and Kitaki Ventures, with additional participation from existing investor YourNest Venture Capital.
The company has developed the senseEDGE platform, which is designed to handle the complex processing requirements of 3D sensing and perception at the edge. The new capital will be used to accelerate the delivery of this technology into new markets and further develop the platform.
The fresh funding arrives as the developer prepares to ship test kits to global customers in the second half of 2021. Founders Tushar Chhabra and Saurav Agarwala established the business to provide foundational architecture for autonomous vehicles, robotics, and smart infrastructure.
From the founder
"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."
Tushar Chhabra
Co-founder and CEO at Cron AI
Investor perspective
"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."
Srikanth Sundararajan
General Partner, VenturEast
Use of funds
- 01Expand into international markets
- 02Continue product development