Invisible AI Raises $3.6 Million to Improve Manufacturing Quality, Empower Workforces and Cut Costs using Edge AI and Computer Vision
Invisible AI, a next-generation computer vision company, today announced that it has raised a $3.6-million seed round, led by 8VC. Participating investors include iRobot Ventures, K9 Ventures, Sierra Ventures and Slow Ventures.
SAN FRANCISCO, CA - May 6, 2020 - Invisible AI, a next-generation computer vision company, today announced that it has raised a $3.6-million seed round, led by 8VC. Participating investors include iRobot Ventures, K9 Ventures, Sierra Ventures and Slow Ventures.
Earlier this year, Invisible AI was showcased by Toyota Motor North America as one of four technologies augmenting the workforce on the manufacturing floor of the world's largest automaker.
"We are proud to be working closely with 8VC and other strategic partners to help us advance the product and meet demand," said Eric Danziger, CEO of Invisible AI. "We are already working with some of the best names in manufacturing, but we believe every organization can benefit from our AI-enabled cameras. Our service helps to assure high quality, a safe workplace, and replicate best practices throughout manufacturing facilities."
Businesses are starting to rapidly install cameras to gain visibility but this simply increases the burden on employees to review the video to gain insights. Invisible AI instead uses computer vision to help businesses answer critical questions, consistently and inexpensively. Specifically, the inability for manufacturers to monitor assembly processes results in millions of dollars of waste, lost worker time and preventable human injury or error. With this first product, Invisible AI has seen strong demand within top-tier manufacturing companies and this round of funding will be used to rapidly grow the team and expand product capabilities.
Invisible AI's low-bandwidth and low-cost cameras can be deployed at each workstation to enable full visibility into assembly processes. This computer vision technology operates entirely at the edge with deep learning models 100x smaller than the current state-of-the-art technology available today. The proprietary, custom solution can be deployed in hours, compared to their competition which typically has a lead time of 8 weeks. There is also built-in privacy, with no video data stored in the cloud and no facial data ever utilized.
"8VC is excited to help Invisible AI expand its reach and grow its customer base," said Alex Moore, partner at 8VC. "We are convinced that Invisible AI is set to have a huge impact on the $200-billion global manufacturing market, saving money and helping improve processes for a multitude of clients."
For more information about Invisible AI, please visit www.invisible.ai.
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About Invisible AI:
Invisible AI is a visual intelligence platform that's building the next generation of computer vision solutions for manufacturing. Headquartered in San Francisco, CA, the company's founding team comes from the world of autonomous vehicles, having previously developed state-of-the-art AI systems. Invisible AI has built an intelligent camera that tracks body posture and movement to automatically monitor assembly processes, and works with operators to ensure high production quality. The company recently closed a seed round led by 8VC, with participation from iRobot Ventures, K9 Ventures, Sierra Ventures and Slow Ventures.