Reality AI Raises $1.7 Million in Seed Round Funding
Furthers development of AI based tools for the practicing R&D engineer
working with sensors and signals
New York, NY (May 15, 2017) – Reality AI,the developer of artificial intelligence tools for engineers working with sensors and signals, announced today the closing of a Seed Investment round raising just over $1.7 million in capital. Investors were primarily angel investors and family offices. Participating in the round was TechNexus Venture Collaborative, a firm that works with corporate innovators and startups, based in Chicago.
Reality AI is using advanced, proprietary artificial intelligence techniques to detect events and conditions in complex sensor data. Specifically, the company offers an application for working engineers to create signal classifiers and detectors. These are code that recognizes the signatures of specific events and conditions in vibration, sound, accelerometry, current/voltage waveforms, imagery, LiDAR, remote sensing, and other sensor types. Applications include machine condition monitoring and predictive maintenance, wearables, connected devices, and specialized sensing applications for industrial, automotive and consumer products markets.
Reality AI is unique in that classifiers and detectors created with its technology can be deployed at the “edge” on inexpensive hardware – residing in firmware on a microcontroller, for example, without the need for specialized processing hardware. “We offer something that product developers often can’t find anywhere else,” said Stuart Feffer, chief executive officer and co-founder of Reality AI. “Our technology solves extremely difficult detection and classification problems in messy, high-variation, real-world signal data – but does it in a package that is usable by a working engineer who is not an expert in signal processing or machine learning. Plus, our customers can deploy on hardware they are already using.”
"TechNexus joined the round as both an investor and collaborator with enterprise partnerships committed to pilot and co-develop the Reality AI technology into new industry and market solutions,” said Terry Howerton, CEO at TechNexus. “We are excited by how Reality AI can solve tough signal recognition problems with real-time machine intelligence throughout the edge-to-cloud continuum.”
Reality AI customers include industrial and electrical equipment makers, a Fortune 500 consumer products company, a medical device maker, a major insurance company, and the US Army Corps of Engineers.
About Reality AI
Reality Analytics Inc. (Reality AI) is a developer of artificial intelligence tools focusing on sensors and signals. Using advanced, proprietary artificial intelligence techniques to detect real-world features and events in sensor data, Reality AI offers an application for practicing engineers that uses AI-based tools to create signal classifiers and detectors. Reality AI’s technology is the subject of nine US patents, with five more patents pending, all in the area of machine learning as applied to sensors and signals. Visit www.reality.ai for more information.
About TechNexus
Uniquely aligning relationships in the innovation ecosystem, TechNexus funds and grows technology ventures as a force multiplier for both entrepreneurs and enterprises. Through accelerating commercial activity for startups and engaging enterprises earlier in the development process, TechNexus has catalyzed growth for hundreds of ventures and dozens of enterprise partners. Visit www.technexus.com for additional information.