AI FOR VIDEO PIONEER LAUNCHES VIDEO ANALYTICS PLATFORM FOR AUTOMOTIVE, SMART CITY AND SECURITY APPLICATION
Ann Arbor, MI – Voxel51, the AI startup revolutionizing video understanding with its video-first solution that unlocks valuable intelligence from videos to make real-time data-driven decisions, today announced that it has closed a $2 million seed round from eLab Ventures. The company also today announced that it has launched its video understanding platform for automotive, smart city and security applications.
Most AI solutions used to analyze video are designed for processing static images or individual video frames, making it difficult to classify behaviors and actions such as walking or running. Uniquely built to process video, Voxel51’s computer vision and spatio-temporal deep learning models automatically identify and classify objects, actions, patterns and behaviors in video scenes with incredible accuracy. The scalable platform enables customers with large video datasets to tag, search and integrate detected content into their workflows and human-decision making processes.
“While advancements in AI and computer vision have enabled object detection in images with pinpoint accuracy, video comprehension is still in its infancy,” said Jason Corso, Voxel51 co-founder and CEO. “We are already delivering human-level results for video, and this funding allows us to push the envelope even further. We will continue to execute on our vision to solve the complexities of video understanding and to improve the speed, accuracy and efficiency of large scale video processing and analysis.”
Since the company was founded in December, 2016, it has completed a number of successful pilots in the automotive, smart city and security spaces. Voxel51 has also recently concluded a $1.25 million grant awarded by the U.S. Commerce Department’s National Institute of Standards and Technology (NIST) to develop video analytics for public safety, bringing its total investment to $3.25 million.
Headquartered in Ann Arbor, Michigan, and founded in 2016 by University of Michigan professor Dr. Jason Corso and Dr. Brian Moore, Voxel51 is a video-first AI company that provides the leading video understanding platform to transform raw video and images into actionable intelligence. Voxel51’s AI technology enables users to make real-time, data-driven decisions that improve public safety, security, and smart city applications. For more information visit voxel51.com.