Provizio, a technology start-up that uses a combination of hardware and software, has successfully closed a $6.2 million seed round. The investors involved are Bobby Hambrick (founder of Autonomous Stuff), Movidius founders, the European Innovation Council (IEC), and ACT Venture Capital.
Provizio’s “Accident Prevention Technology Platform” built to avoid car accidents in real-time and beyond-line-of-sight
The start-up offers a five-dimensional sensory platform to perceive, predict, and prevent car accidents in real-time and beyond-line-of-sight. The “Accident Prevention Technology Platform” integrates proprietary vision sensors, machine learning, and radar to prevent high-speed collisions in all weather conditions. The start-up team comprises experts in robotics, AI, vision, and radar sensor development.
The team also involves Dr. Scott Thayer and Prof. Jeff Mishler, a former member of Carnegie Mellon robotics. Prof. Mishler is known for the development of early autonomous technologies for Google/Waymo, Argo, Aurora, and Uber.
With a successful $6.2 million seed round, CEO Lunn ready to offer its technology to the automotive industry
Barry Lunn, the CEO of Provizio, said that they have put together an incredible team to work on their offering. He further said that AI is the future of automotive accident prevention. Also, Provizio’s 5D radars with AI compatibility have already taken the first step towards the goal. One point three five roads to zero drives are what the team at Provizio offers to the automotive industry.
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CEO Lunn has experience in vision technology and is also a founder of Arralis, a radar company that collaborates with partners like NASA, General Motors, and Boeing. Lunn predicts that by deploying their technology, a large number of accidents could be avoided in a short time. He feels strongly about this technology rather than testing autonomous vehicles which, may not be ready for years.
Provizio to sell technology to major auto suppliers
Lunn stated that billions have been invested in the autonomous industry with zero effect on road safety. Provizio aims to get its technology into every vehicle on the road. Once deployed, the company will have complete access to the data that will be generated so that the product can continue to learn.
The company plans to sell its technology to major auto suppliers i.e Tier Ones rather than automakers. Lunn feels that these companies have relationships in the industry that will assist in technology adoption.