The hardware and software design of the company allows developers to create intelligent applications that use 3D sensor technology to reliably interpret and learn the natural world. This is crucial for technologies such as autonomous vehicles, mobility, logistics, robotics, intelligent transportation infrastructure, smart spaces, and protection that rely on reliable, high-quality decision-making data.
3D data-adaptive edge-processing platform in India VenturEast and Kitaki Ventures led a $4 million Series A funding round for Cron AI. YourNest Venture Capital, an existing partner, also took part in the round. Cron AI, founded by Tushar Chhabra and Saurav Agarwala in 2015, has developed a real-time AI, deep learning-enabled edge inferencing architecture that speeds up algorithms and neural networks at the product edge.
Cron AI will use the Series A funding to promote the release of SenseEdge, a sensor-agnostic 3D data perception application designed to meet the needs of emerging audiences in 3D sensing, perception, and processing. The system is said to be in the early stages of production, with test kits expected to arrive in the second half of 2021.
In a press release, the company stated that the SenseEdge device would make it easier for new industries to access 3D LiDAR-point cloud-processed data and develop potential applications. “Deep learning implementation on the edge for real-time data inference, including 3D image extraction, is in high demand,” according to Srikanth Sundararajan, a general partner at VenturEast.
Cron AI went on to say that its SenseEdge software was built from the ground up to solve the difficult computational requirements of processing 3D sensor technology data at the edge from sensors including radars, LiDARs, and ToF cameras. A “3D sensing, contextually aware, artificially evolving, self-optimizing heterogeneous edge system” is defined as the resolution. This “bridges the gap between complex 3D sensing dynamics and real-world applications,” as per the company.
The 3D sensor industry was estimated at $2.02 billion in 2020. According to the Mordor Intelligence market survey. Which is projected to rise at a compound annual growth rate (CAGR) of 18 percent between 2021 and 2026 to hit $5.46 billion. According to the survey, one of the industries most likely to be impacted by 3D technologies is the automobile and automotive industry.
“Many fast-growing businesses, including those in India, are heavily invested in research and development in 3D sensor technology. They are concentrating their efforts on developing and producing new car types. As a result of this aspect, 3D imaging and navigation systems are being used more frequently to build cars and other equipment. “All of these parameters are assisting the growth of the 3D sensor technology market,” according to the report.
North America is the largest market for 3D sensor technology, while Europe and Asia have a moderate level of adoption.