Ailytics Raises $7.4 Million to Expand Industrial Computer Vision
Ailytics raised $7.4 million in a Series A round led by Tin Men Capital to expand industrial camera use in safety and operations monitoring.
Singaporean company Ailytics has raised $7.4 million in a Series A funding round led by Tin Men Capital, according to Dealroom News.
The round saw participation from SEEDS, part of SG Growth Capital, Safie, Japan's largest cloud-camera company, one of Japan's largest construction companies, family offices, and existing investors, according to the announcement.
The company converts existing industrial surveillance cameras into a real-time monitoring system for safety and operations, without the need to install new infrastructure, reducing deployment costs for factories and construction sites.
The company says it has more than 400 deployments across 15 countries, and that the proceeds from the round will be used to fund teams in the United States, Japan, Australia, and the Gulf.
What do these terms mean?
Series A Round: A funding round that comes after seed funding, usually used to expand the product and enter new markets prior to a larger round.
Computer Vision: A technology that allows software to understand what is in images and video, such as detecting hazards, worker movement, or factory equipment failures.
Deployment: Actually running the system at a client site, rather than merely testing it in the company's lab.
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