Cron AI has raised $4 Mn in its Series A funding round led by VenturEast and Kitaki Ventures
Cron AI will use this Series A funding to accelerate the delivery of SenseEdge, a 3D data perception platform
SenseEdge device will make it easier for new industries to access 3D LiDAR-point cloud-processed data
Indian 3D data-adaptive edge-processing platform Cron AI has raised $4 Mn in its Series A funding round led by VenturEast and Kitaki Ventures. Existing investor YourNest Venture Capital also participated in the round.
Founded by Tushar Chhabra and Saurav Agarwala in 2015, Cron AI has developed a real-time artificial intelligence (AI), deep learning-enabled edge inferencing platform accelerating algorithms and neural networks on the product edge.
The company’s hardware and software architecture enables innovators to develop intelligent solutions using 3D sensors to accurately perceive and learn the real world, which is critical for applications like autonomous vehicles, mobility, logistics, robotics, intelligent transport infrastructure, smart spaces and security applications set to benefit from consistent high quality decision-making data.
Cron AI will use this Series A funding to accelerate the delivery of SenseEdge, a sensor-agnostic 3D data perception platform that aims to address 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 already set to be shipped to customers in the second half of 2021.
The company, in its press note, emphasised that the SenseEdge device will make it easier for new industries to access 3D LiDAR-point cloud-processed data and build applications for the future. “There is high demand for deep learning deployment on the edge for real-time data inferencing, including 3D image extraction,” said Srikanth Sundararajan, general partner at VenturEast.
Cron AI has further elaborated that its SenseEdge platform is created from the ground up and has been designed to address the challenging computational requirements of processing 3D sensor data — from sensors like radars, LiDARs and ToF cameras — at the edge. The solution is a “3D sensing, contextually aware, artificially evolving, self-optimizing heterogeneous
edge platform”, the company said, emphasising that it bridges the gap between complex 3D sensing dynamics and real-world applications.
According to the Mordor Intelligence market report, the 3D sensor market was valued at $2.02 Bn in 2020 and is expected to grow at a compounded annual growth rate (CAGR) of 18% between 2021 to 2026 to reach $5.46 Bn. The report notes that the car and automotive sector is one of the areas that is likely to be significantly affected by 3D technology.
“Many manufacturers in the emerging countries, like India, are heavily investing in R&D activities. They are focusing on engineering and designing new vehicle models. This factor is leading to increased adoption of 3D mapping and navigation solutions, in order to design cars and other vehicles. All these factors are aiding the growth of the 3D sensor market,” the report reads.
North America is the biggest market for 3D sensor technology, whereas Europe and Asia fall under the mild category of technology usage.