DEEP VISION HAS NABBED $35 MILLION FROM A FINANCING ROUND

 A startup company called Deep Vision that is known for manufacturing Artificial Intelligence-based hardware products, has accumulated $35 million for a project.

You might have read about Deep Vision multiple times. It is an enterprise known for rolling out sophisticated software programs for complicated workloads and Artificial Intelligence chips.

It has recently been revealed that it has signed a deal from a financing round (series B), which Tiger Global chaired. Many other players, such as Silicon Motion, Western Digital, and Exfinity Venture Partners, are at the table.

The Chief Executive Officer of the company Deep Vision named Ravi Annavajjhala, has recently made a statement about the closed deal. He has said that the money will be invested in a project under Deep Vision's plan to boost manufacturing for the customers who want the product early.

Edge Computing

Something called "Edge Computing;" is slowly gaining popularity in the industries as all embrace it. "Edge Computing" is a term used for geographical distribution. "Edge Computing" means computing that takes place closer to the source of the data.

Here, "Edge Computing" refers to a place where computing and storage resources are accumulated, and the data is processed.

In the present day, many global industry sectors such as manufacturing, service, energy, and health care have opted to use "Edge Computing." A lot of parties have started to adopt edge computing because of the advantages that it provides.

It has resulted in an unimaginable surplus in the market value. A recent study carried out by Grand View Research has predicted that the total value of "Edge Computing" has increased by almost two million. The overall turnover of the "Entire Computing" market was $4.68 billion, and it has risen to $6.29 billion.

It has been widely reported that Deep Vision is among the companies along with Palo Alto, aiming to develop processors that require complicated AI applications.

Some of the most common applications of these processors include drones, smart homes, smart city, AI, data science, robotics, automation, ARA-1 flagship, "Edge Computing," etc. Along with that, the processors are also utilized for natural language processing and real-time video analytics.

The company's Chief Executive Officer (Deep Vision) has added that the recent investment indicates a deep tactical thinking and strategic muscle. He said that the global industry sectors result in a wide range of opportunities in various applications in strategic marketing domains.

The CEO named Ravi Annavajjhala had previously worked in enterprises such as SanDisk and Intel. A press release is already available on the internet highlighting his statements, and you can read it right now.

Moreover, Annavajjhala also promised that his company would further add a cost-effect AI interference platform to the program. Furthermore, the company also has plans to create faultless software development tools.

Deep Vision specifically provides efficacious software and an ARA-1 tool that enables AI algorithms to operate on accelerator chips. The chip comprehensively converts AI algorithms into computational and statistical graphs alongside equation data. All of which could be efficiently run on the ARA-1.

It is imperative to note that Deep Vision is not the only company attempting to build such chips. The company is gaping at tough competition from Quadric, Hailo, FlexLogix, AIStorm, etc. Mobileye and Tel Aviv are also on the race courtesy of the EyeQ product line.

Not until recently, in July, a company called Baidu had released a chip called Kunlun. It is specifically manufactured for "Edge Computing," and through data centers, it could be used in the cloud as well. A well-known company in the Electronics industry called Arm had released two latest "Edge Computing" chips last year in February.

Now, Deep Vision has received positive critical ratings from a principal analyst from Linley Group. She has said that the products from Deep Vision differ in terms of latency, performance, resolution, and accuracy. The chips' architecture has been designed to maintain a minimum level, thus helping the latency.

With a sudden demand for Edge products like drones and innovative city products, the application of "Edge Computing" will only increase. Therefore, the latest deal cracked at the financing round by Deep Vision is much more significant than what appears to be.

Edge computing has become an essential aspect of computing, data processing, and storage handling. Deep Vision, a well-known hardware manufacturer of AI-based products, has recently closed down a $35 million financing round. The CEO of the fledgling company has revealed that the proceeds from the financing round will directly funnel to a company project.

Source :- https://offsetup.wordpress.com/2021/09/29/deep-vision-has-nabbed-35-million-from-a-financing-round/