Real-time artificial intelligence platform startup EdgyBees raised $5.5 million in seed funding, and investors expressed their willingness to invest in this breakthrough AR technology.
Real-time artificial intelligence platform startup Edgybees announced today that it has completed a seed round of $5.5 million. Apply its AR technology to new vertical areas, including defense, smart cities, automotive and broadcast media.
This round of financing is led by Motorola Solutions Ventures and Verizon Ventures. Venture capital firm OurCrowd, 8VC, NFX is involved by Aspect Ventures.
Founded by Menashe Haskin in 2016, Edgybees is headquartered in Israel with offices in Europe and the United States. Edgybees' technology enables augmented reality (AR) on high-speed platforms such as drones and cars. By providing real-world scenarios and adding more information and perspectives, Edgybees can help emergency work react more effectively.
Earlier, Edgybees' patent-pending technology was first applied to the AR racing game for drones, and was released in early 2017 with the drone pilot DJI. But the company found an opportunity to make more use of its services, and later in the year, Edgybees released "First Response."
First Response is an unmanned flight application that is used by emergency responders to locate themselves in a chaotic environment and better track fast-changing situations. It was used by local authorities in the fires of Northern California last October to help firefighters escape the danger.
Adam Kaplan, co-founder and CEO of Edgybees commented: "At first, technology powered racing games and now saves people around the world. Commercial and industrial drone users are using AR in fire, public safety and search and rescue. The cooperation is amazed, we can't wait to expand the next generation of drone applications into new markets."
Jon Medved, CEO of OurCrowd, added that his company is happy to invest in this breakthrough AR technology.
"What makes Edgybees so special is that they have proven that in addition to enabling augmented reality to create software history at high speed, their drone software can save lives."
According to Merav Rotem-Naaman of Verizon Ventures, Edgybees' goal is to bring AR into a more challenging environment than it is now, in fast-moving outdoor equipment such as drones and cars, thereby increasing its existing business.
Paul Steinberg, Chief Technology Officer, Motorola Solutions added: "We believe that Edgybees AR software has the potential to help us deliver rich real-time intelligence to public safety and business users at critical times.
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