Grouport made another investment. This time it's advanced technology in the field of computer vision
The angel investor fund Grouport, which is part of the DEPO Ventures investment group, invested units of millions of crowns in Neuronix AI. The investment will help the startup at an early stage to become a leader in computer vision by 2025, through an application that brings unique artificial intelligence technology in the field of AI hardware acceleration.
Neuronix AI provides more than 60x faster performance when processing computer vision analysis data. It also reduces the overall cost of running a computer vision application on IoT (Internet of Things) devices.
"We were pleasantly surprised by the humility and professionalism that radiated from the founder Yaron Raz. Since investments in early projects are assessed mainly according to the founders, it was absolutely clear to us that we have an ideal candidate in front of us,” explains Grouport partner Michal Ciffra.
First users in July
"Computer vision is becoming a part of our lives. Virtually every device that has access to video or image data needs certain computer vision capabilities. By 2025, 1.5 billion devices will use the AI edge. Neuronix has an ambition to dominate this area. Their accelerator provides an incredible 95% cost savings based on a suitable architecture that essentially speeds up vector propagation. In addition, they provide seamless integration of their solutions into clients' technology solutions, which significantly speeds up their business process, ”adds Ciffra.
“As a strong technology-oriented company at an early stage, you need investors who understand the technical details of the AI (AI) ecosystem, but also understand and share the vision of robust artificial intelligence for Computer-Vision AI systems that integrate easily with IoT devices. , surveillance, autonomous systems, etc. We found all this in Grouport,” says Yaron Raz of the Angel Fund's investment.
“Grouport's investment as part of our pre-seed financing allows us to access a working prototype and secure our first strategic partners and customers. We also expect that the contacts of the entire DEPO Ventures group will help us identify other potential customers, partners and investors within the European community. We have already mapped the environment of Silicon Valley and Israel,” adds Yaron Raz.
Investment from a prestigious accelerator from Silicon Valley
The prestigious American Alchemist Accelerator has also invested in the company in the past. CB Insights named Alchemist the best accelerator in 2016 based on the average level of funding for its older projects. The primary criteria for accelerator screening are teams, with priority given to a major technical co-founder.
With its unique concept of committed investment, the Angel Fund Grouport responds to the lack of "smart" financing of early technological startups in the Czech Republic and Central Europe. Top managers and business owners thus have the opportunity to participate in the fund's activities, provide their expertise, develop a network of contacts, and thus help increase the value of the portfolio. The fund has invested in projects such as SmartGuide, TATUM, Spendee or BikeFair.