Cron AI secures £2.83 million Series A investment led by VenturEast and Kitaki Ventures

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Cron AI, Adaptive Edge Platform company, raises $4m to redefine 3D Perception


Developer of senseEDGE™ secures backing for global expansion starting in Europe

Cron AI’s adaptive, sensor agnostic approach will radically accelerate the adoption of 3D sensors across industries and applications

Derby, UK and Bangalore, India May 2021Cron AI, a leading DeepTech company building a 3D Data Edge perception platform, 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.

Cron AI’s senseEDGE™ technology addresses the acceleration requirements of 3D sensing, perception, and processing at the sensing edge. With this funding, Cron AI will be able to accelerate the delivery of senseEDGE™ into new markets to power the core of the autonomous systems and automated machines to shape the future.

Founded by Tushar Chhabra and Saurav Agarwala, Cron AI has developed a real-time AI, Deep Learning-enabled edge inferencing platform accelerating algorithms and neural networks on the product edge. Cron’s unique real-time scalable and dynamic hardware and software architecture, designed from the ground up, 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.

Dr. 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. 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.”

“We have seen Cron AI grow from strength to strength over the last few years as a sharply focussed DeepTech and AI platform bringing 3D perception to reality through senseEDGE™. As a fully developed edge compute platform, it will fast track the adoption of 3D perception across multiple use cases globally.” said Girish Shivani, ED and Fund Manager, YourNest Venture Capital.

Neeraj Das, Managing Partner at Kitaki Ventures, said:

“We are excited to partner with Cron AI as the team continues building a world-class 3D data edge perception and an IP pool that is uniquely capable of delivering 3D sensing perception processing for a range of applications. We continue to be impressed by the sustained innovation and development that it has demonstrated to date.”

The senseEDGE™ platform is in advanced stages of development, with several patents already filed and ‘test kits’ set to be shipped to global customers in H2 2021. With this funding, Cron AI plans to develop its technology further and accelerate the delivery of its platform senseEDGE™ in currently untapped markets.

Tushar Chhabra, Co-founder and CEO at Cron AI, said:

“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.”

Mansi Verma, Sr. Investment Manager at VenturEast, said:

“Cron’s platform offers significant performance benefits, in terms of higher throughput along with lower latency and reduced power consumption, making Cron the partner for choice for leading OEMs and LiDAR companies based in Europe and North America. Cron has demonstrated how innovative deep tech products for global markets can be built out of India.”

Tushar concluded: “Ultimately, our aim is to take 3D data perception to singularity. We believe the automated future must be built around a completely reimagined revolutionary and adaptive architecture for processing 3D sensor data, and this is precisely what our platform is optimised to deliver.”

SenseEDGE™ will deliver an out-of-the-box solution enabling innovators to migrate and support the next generations of 3D sensing modalities with minimal effort and disruption. Cron AI’s accurate, high quality, real-time, robust, and truly sensor agnostic 3D data perception platform aims to 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.

For additional information about senseEDGE™ visit: www.cronai.ai/product

ENDS

Notes to Editors:

About Cron AI

Struck by the absence of intelligent, scalable, purpose built ‘whole solutions’ for 3D sensor data perception processing while developing applications for the security industry, Tushar Chhabra and Saurav Agarwala set out to bridge these critical gaps and overcome the performance bottlenecks they encountered when they founded Cron AI in 2015.

Now, Cron AI is developing a disruptive 3D sensor data adaptive edge-processing platform, creating an enabling foundation for next-generation applications across autonomous vehicles, mobility, Intelligent transport infrastructure, smart spaces, automation, and security.

Its senseEDGE™ platform is architected from the ground up and specifically designed to address the challenging computational requirements of processing 3D sensor data (from sensors like radars, LiDARs, ToF cameras) at the edge. The solution is a ground-breaking 3D sensing, contextually aware, artificially evolving, self-optimizing heterogeneous edge platform. It bridges the gap between complex 3D sensing dynamics and real-world applications, offering:

  • Revolutionary Artificial Intelligence and Deep Learning algorithms for 3D sensing
  • Adaptive to support future generations of algorithms and 3D sensing modalities
  • Deterministic throughput and latency
  • Continuous real-time self-adaptation to environment, context, and domain shifts
  • Optimised to deliver high performance per watt

Cron AI is backed by VenturEast, Kitaki and Your Nest, accelerated by Techstars and Cisco.

Cron AI: United Kingdom | India

About Kitaki Ventures

Kitaki Ventures is an early-stage fund focused on deep-tech companies helping bring the next big evolution. With a hawk eye for IP driven, future enabling businesses we aim at exit driven investment strategies. Our focus is on deriving returns by creating a predefined roadmap to help companies outgrow us and our founders’ first approach helps us find visionaries enabling the future.

For more information, please visit https://www.kitaki.vc/

About VenturEast


VenturEast is one of India’s pioneering Venture capital fund managing ~$350 million AUM. The Fund is currently investing out of its fifth fund with a focus on enterprise tech and consumer 

tech. The fund has a thematic concentrated portfolio in Technology and Healthcare and its past and current investments include MoEngage, Kissht, ACKO, Portea, ekincare, 24 Mantra, Gland Pharma, Richcore, Inc Nut, Little Eye Labs, etc.

For more information, please visit www.Ventureast.net

About YourNest

YourNest is a pioneering, pre-Series A early-stage venture capital fund established in 2011 to support audacious startups building life-changing businesses. Its two funds have invested in several startups, most of which are in the DeepTech, enterprise domain with global market potential. The team at YourNest strongly believes in human capability and work with the dictum of ‘what is impossible today is routine tomorrow’: with its unique brand of ‘Nurture Capital’, it provides startup founders with far more than just financial backing.

Some of the notable companies in YourNest portfolio include Miko, Momspresso, Opkey, Lavalle Networks, Practically, Dozee.

For more information, please visit www.yournest.in

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Safiya Marzook

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