Originally published by CTech
Israeli startup Visionary.ai, which develops AI for real time video enhancement, announced on Tuesday that it has received a multi-million-dollar investment from National Grid Partners (NGP), the venture investment and innovation arm of National Grid, one of world's largest investor-owned energy companies.
Visionary.ai's technology enables cameras to operate in extremely low lighting, in real time, in color and while maintaining high picture sharpness. In addition, Visionary.ai has developed a novel software image signal processor, which can adapt image processing to the needs of particular applications.
"Electricity grids by their nature incorporate many geographically distributed assets that need to be monitored for safety, security and signs of damage or malfunction," said Lisa Lambert, Chief Technology and Innovation Officer at National Grid and Founder and President of National Grid Partners. "The transition to renewable energy sources drives this distribution of assets even further. Vision is critical to monitoring these assets, and cameras need to be dependable in all lighting and weather conditions. The technology that Visionary.ai is developing can help with the need for increased security of electricity supply and the battle against climate change."
Oren Debbi, CEO and Co-founder of Visionary.ai, commented:
"We're experiencing a surge of interest in our technology from many industries, including from several of the world's most renowned technology companies. The need for better real-time video clearly resonates across both human and machine vision applications. Our engineering team has made incredible progress over the last 18 months, and our first products are now production-ready. This investment from National Grid Partners will enable us to build on this foundation and expand the range of solutions we can offer our customers."
Visionary.ai increased its Seed round to a total to $7 million earlier this year. The round was led by Ibex Investors with the participation of Spring Ventures and Capital Point.
NGP invested last month several million dollars in another Israeli startup, Exodigo, which has developed a non-intrusive subsurface imaging platform.
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