Drishti Technologies Inc has now revealed that it has secured $25 million in its Series B funding round from the US-based Venture Capital firm Sozo Ventures.
Some other investors, such as Alpha Intelligence Capital, Micron ventures, HELLA Ventures, Toyota AI Ventures, as well as existing investors Emergence Capital, Andreessen Horowitz, also participated in the funding round.
Drishti AI-based video analytics, data, and insights bring benefits to manufacturers. The startup also offers new datasets on manual tasks that drive business insights, empowering people in assembly processes, and ushering in a new era of manufacturing, AI-powered production.
“Most manufacturers lack meaningful data about manual assembly processes because human actions are very difficult to measure. Drishti uses computer vision and AI to create continuous streams of data from video of manual actions,” said Jim Adler, Managing Director at Toyota AI Ventures.
“We’ve seen the massive impact our technology can have in driving significant improvements in critical business areas. We have a vision of people and technology, human and machine, working in concert to the benefit of everyone in the organization, especially the people working on the line. This investment is the next step toward the era of AI-powered production,” said Prasad Akella, founder and CEO of Drishti.