Edgybees Raises $5.5m For Real Time AI Platform for Augmented Reality

Edgybees Raises $5.5m For Real Time AI Platform for Augmented Reality
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Edgybees, an augmented reality platform startup, recently revealed details regarding the completion of its $5.5 million seed round. According to the startup, the undertaking aimed to spearhead its AR technology to new areas /fields such as broadcast media, automotive, smart cities, and defense.

Both Verizon Ventures and Motorola Solutions Venture led the round, which drew the participation of venture firms like NFX, 8VC, OurCrowd and Aspect Ventures. Also, according to data from PitchBook, a research firm, Edgybees has garnered $5.5 million in financing to date. Adam Kaplan, Nitay Megides’ VP of research and development, co-founded Edgybees with Menashe Haskin, Amazon Prime Air Israeli development’s former manager. They serve as the chief executive officer and chief technology officer of the startup respectively.

Edgybees’ technology allows the use of augmented reality on high-speed avenues such as cars and drones. In fact, emergency teams that responded to the post-hurricane flooding and Northern California wildfires in Florida used the company’s First Response application.

Currently, AR app developers can now provide overlays that match a 3D human experience of high-speed movement by using streaming data and sensors. Edgybees platform boasts distinctive patent-pending features that come in the form of a developer SDK alongside back-end SaaS services. This capability gives way to thrilling new commercial and consumer applications of high-speed augmented reality (AR) on various devices.

Edgybees’ technology was first put to use on an AR drone racing game, which was launched in early 2017 in collaboration with DJI, a drone leader. Later on, in the same year, the company released its First Response app, which has become a popular choice for emergency responders. They utilize the app to familiarize themselves with the harsh environments and quickly track developing situations.

During Hurricane Irma’s aftermath, officials working in the Florida Keys first used the drone flying application to identify calls for help in flooded locations. Last October, local authorities utilized First Response during the Northern California fires to keep firefighters safe. Edgybees CEO and co-founder, Adam Kaplan, acknowledged the development of their technology from powering a racing game to currently saving lives globally. He also expressed his excitement in response to the overwhelming interest from industry and commercial drone users seeking to take advantage of AR and collaborate with Edgybees in search & rescue, public safety, and firefighting.

Jon Medved, the CEO of OurCrowd, shared his company’s joy in dealing with a revolutionary technology company that believes it can transform the world. He added that Edgybees differentiated itself from other technology companies by enabling AR at high speed and demonstrating that its drone app can save lives.

According to Merav Ritem-Naaman of Verizon Ventures, Edgybees helps developers to come up with realistic and immersive experiences that overlay 3D visuals over live video from high-speed cameras. Its algorithms take in data streams from cameras installed on aerial platforms, body-worn accessories or cars. On the other hand, Paul Steinberg, the chief technology officer of Motorola Solutions, shared Motorola Solutions’ confidence in Edgybees’ AR platform, especially in helping it to provide real-time intelligence to commercial and public safety users when such information is needed.

Source Techstartups

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