Bangalore, May 15, 2017 – Uncanny vision, an optimized computer vision solution for IoT devices, raise an Undisclosed Angel Round from Manipal Technologies and Jetty Ventures and others on LetsVenture.
The other investors in this funding include S Somasegar (Madrona Venture Group ), Apurva Salarpuria (Salarpuria Sattva Group), Anand Chandrasekaran (Facebook), Venkat S Raju (Kyron Global) and Target.
“The founders’ technological depth in executing deep learning, AI based IoT specifically focused on Vision, besides initial head start in important markets like Japan and US are key factors for us to consider to lead and invest in this venture. We thank all the investors who participated on LV platform to make this fundraiser a success ” said Prasad Palisetty – Managing Partner of Jetty Ventures and lead investor in the round.
“Uncanny Vision is an interesting opportunity. We have been interacting with the founders for the past 2 – 3 months. The company is a B2B asset with a good sales pipeline, revenue upside potential, mature & experienced founders, and geography agnostic addressable market opportunity. We are happy to co-invest with investors with a strategic interest in computer vision and deep learning space.” said Navaneetha Krishnan of Manipal Technologies and Lead Investor in the round.
UncannyVision provides optimised Computer Vision solutions for the next generation Internet of Smart Things. Their two products – UncannyCV (Traditional Computer Vision algorithms) and UncannyDL (Deep Learning-based Vision) – are being used by multiple Fortune 100 companies in Consumer, Automotive, Industrial & Machine Vision applications. Uncanny Vision is now developing an Advanced Surveillance & Analytics software using Deep Learning by building on top of UncannyCV and UncannyDL. This next generation vision solution includes a unique Human Activity Monitoring module, a Self-Learning Module and Face/Object Recognition – all of which can work On-Device. With this software, Surveillance Cameras can enable Real-Time Actionable alerts unlike present cameras being used for only post-the-fact manual analysis of recorded footage.
Founded in 2013, LetsVenture enables startups and investors to discover and connect with each other. There are 12000+ startups and 2200+ investors on the platform. LetsVenture works with startups and investors on discovery, syndication and closure. This involves managing due diligence and paperwork closure. LetsVenture has enabled more than 100 startups to raise over $41mn.