June 16, 2021 7:55 am
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Deeptech startup Cron AI raises $4 million in Series A funding

Deeptech startup Cron AI has raised $4 million as part of its Series A funding. The round was led by VenturEast and Kitaki Ventures, along with participation from existing investor, YourNest Venture Capital

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Deeptech startup Cron AI has raised $4 million as part of its Series A funding. The round was led by VenturEast and Kitaki Ventures, along with participation from existing investor, YourNest Venture Capital, said a statement.

The company is currently working on the sense EDGE platform which it says is in advanced stages of development, with several patents already filed and ‘test kits’ set to be shipped to global customers.

Founded by Tushar Chhabra and Saurav Agarwala, Cron AI has developed a real-time AI, Deep Learning-enabled edge inferencing platform senseEDGE.

The company said its platform will help in developing intelligent solutions using 3D 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 consistently high-quality decision-making data.

“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,” said Tushar Chhabra, co-founder, and CEO at Cron AI.

The startup claimed that its SenseEDGE platform will make it easier and more compelling for new industries to access the huge value of 3D lidar-point cloud processed data and build applications of the future.

Srikanth Sundararajan, General Partner at VenturEast, said: “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.”

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