Computer vision SaaS startup Assert AI raises $4 million – SME News

Assert AI, a computer vision company that provides artificial intelligence (AI)-based video analytics solutions to a variety of industries, announced Monday that it has raised $4 million in a Series A funding round. The investment was made by Ramesh Hariharan (former CTO and co-founder of LatentView), Prashant Parkar (former MD and CEO of ICICI Ventures, integrated grain trading platform Arya.ag), and The company said it was led by investors, including selected individuals. statement.

Assert AI operating in Indiathe United States, and the Middle East will “deploy capital to expand our presence in key markets, strengthen our research and development efforts, and continue to pioneer new advances in computer vision technology.””

Job Phillip, CEO of Assert AI, said of the funding: “This investment reflects investors’ confidence in Assert AI’s vision and potential. It will accelerate our expansion efforts and develop innovative AI vision solutions that deliver value to our customers around the world. will be accelerated.”

Assert AI provides customized computer vision for non-AI users to integrate data into production systems, including API endpoints, direct hardware integration, and comprehensive dashboards for actionable insights. Pratham, a no-code platform for

Additionally, Assert AI's drone-based solution Falcon enables warehouse inventory management with real-time tracking and optimization capabilities.

The company raised $2 million in November 2022 from agritech startup Arya.ag and Prashant Purker, former MD and CEO of ICICI Venture.

Assert AI said it “looks forward to building new partnerships, delivering impactful solutions, and driving positive change across the industry.”

Global video analytics market Various industries such as retail, manufacturing sector, warehousing, traffic management, and logistics will grow and are expected to grow from $8.3 billion in 2023 to $22.6 billion by 2028, at a CAGR of 22.3%. According to advisory firm MarketsandMarkets, companies in supply chain, healthcare, pharmaceuticals, and more are choosing video analytics applications to improve security.