Cogniac, a San Jose, California-based startup developing computer vision tech for task automation, today announced that it raised $20 million in a series B1 financing round led by National Grid Partners with participation from National Grid, Autotech Ventures, Cisco Investments, Energy Innovation Capital, London Technology Club, Vanedge Capital, and Wing Venture Capital. CEO Chuck Myers says that the proceeds will be put toward the expansion of Cogniac’s workforce and the ramp-up of R&D efforts to support the company’s approach to computer vision, data storage, and “human-AI interactivity.”
Computer vision is a type of AI technology that allows machines to understand, categorize, and differentiate between images. Using photos from cameras and videos as well as deep learning components, computer vision can identify and classify objects and then react to what it “sees.”
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