Visionary.ai, a developer of AI for real time video enhancement, announced that it has received a multi-million-dollar investment from National Grid Partners (NGP), the venture investment and innovation arm of National Grid plc., one of world’s largest investor-owned energy companies.
Lisa Lambert, Chief Technology and Innovation Officer at National Grid and Founder and President of National Grid Partners said: “Electricity grids by their nature incorporate many geographically distributed assets that need to be monitored for safety, security and signs of damage or malfunction. 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.”
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One of the principal benefits of Visionary.ai’s technology is that it 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. Today’s hardware-based solutions cannot offer this level of flexibility.
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.”
With its investment in Visionary.ai, NGP has backed a total of 40 startups dedicated to combating climate change across a range of applications, from cybersecurity to customer-focused solutions.
SOURCE: PR Newswire