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Silicon Valley artificial intelligence startup Drishti Technologies earlier this month announced the completion of a second fundraising round worth $25 million.
The company, founded in 2017 by former engineers from General Motors and Google, says its cameras and AI capabilities allow it to capture footage from factory floors and improve production on manual assembly lines.
Its Series B fundraising round was led by Bay Area investment firm Sozo Ventures, and Alpha Intelligence Capital's Uday Sandhu will join Drishti's board of directors as part of its investment. The campaign also included venture investments from Toyota and semiconductor giant Micron.
Drishti officials said the company provided evidence that its video analytics brought "significant benefits to manufacturers and their workers." The company said it already works with major electronics manufacturers and three of the world's top six automotive OEMs.
"Most manufacturers lack meaningful data about manual assembly processes because human actions are very difficult to measure," Toyota AI Ventures managing director Jim Adler said in the announcement.
The company said the newly raised funding would go toward continued expansion in North American and internationally — particularly Japan.
"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," Prasad Akella, the company's founder and CEO, said in the statement.
Image Credit: @drishtilabs / Twitter
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