Assert AI Raises $4 Million in Series A Funding to Advance Computer Vision Solutions

• ByStartupStory     |    April 30, 2024

Assert AI, a leading provider of AI-driven video analytics solutions, has announced the successful closure of its Series A funding round, securing an impressive $4 million. The investment round was led by prominent investors including Ramesh Hariharan, co-founder and former CTO of LatentView, and Prashant Purker, former MD & CEO of ICICI Venture, among others.

In a statement released on Monday, Assert AI revealed that the funds will be instrumental in strengthening its market presence across essential regions, driving further research and development initiatives, and spearheading innovative advancements in Computer Vision technology.

Job Philip, CEO of Assert AI, expressed enthusiasm about the investment, stating, “This investment reflects the confidence of our investors in Assert AI’s vision and potential. It will fuel our expansion efforts and accelerate the development of innovative AI Vision solutions that drive value for our clients globally.”

The company, which operates in India, the United States, and the Middle East, plans to utilize the capital to broaden its offerings and deliver enhanced services to its clientele. Assert AI’s innovative approach includes Pratham, a no-code platform for computer vision tailored for non-AI users, enabling seamless integration of data into production systems.

Furthermore, Assert AI’s drone-based solution, Falcon, revolutionizes warehouse inventory management by providing real-time tracking and optimization capabilities.

Assert AI is poised to capitalize on the rapid growth of the global video analytics market, which is projected to expand at a CAGR of 22.3% from $8.3 billion in 2023 to $22.6 billion by 2028 . This growth is driven by the increasing adoption of video analytics across industries such as retail, manufacturing, warehousing, traffic management, logistics, healthcare, and pharmaceuticals, among others, for enhanced security and operational efficiency.

With a focus on forging new partnerships, delivering impactful solutions, and driving positive change across industries, Assert AI is well-positioned to lead the charge in leveraging AI-driven video analytics to transform business operations globally.

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