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Artificial Intelligence

Cogniac Raises $20 Million in Series B1 Financing to Drive Global Expansion

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Funds to support the operational expansion of tech and leadership teams, EMEA and APAC regions

National Grid Partners, the venture investment arm of National Grid plc (NYSE: NGG), leads round, with participation from Cisco Investments

SAN JOSE, Calif., Oct. 27, 2021 (GLOBE NEWSWIRE) — Cogniac Corporation (“Cogniac” or “the Company”), a San Jose, California-based provider of enterprise-class Artificial Intelligence (AI) image and video analysis, today announced it has completed a $20 million Series B1 financing round.

Cogniac’s AI vision platform operates effectively at enterprise scale for many major brands, including Trimac Transportation and Doosan Bobcat North America. The company is fostering the adoption of AI vision through its no-code cloud platform, which seeks to drive efficiency for organizations that rely on rote, high-volume tasks well-suited for AI use.

The financing was led by National Grid Partners, the venture investment and innovation arm of National Grid, with participation from Autotech Ventures, Cisco Investments, Energy Innovation Capital, London Technology Club, Vanedge Capital, and Wing Venture Capital. The proceeds will primarily fund the expansion of the leadership team, technical and product engineering, and the build-out of infrastructure for the regional sales and engineering teams in Europe, the Middle East, Africa (EMEA), and Asia-Pacific (APAC) regions. Cogniac will also ramp up R&D efforts to strengthen and solidify its unique and innovative approach to AI vision implementation, data storage, and human-AI interactivity.

“We’re at a key inflection point for AI vision adoption in the industrial and manufacturing sectors,” said Chuck Myers, CEO of Cogniac. “Our product’s efficacy and ease of implementation offer our customers significant and material improvement to their workstreams and processes. This funding allows us to scale our operations to meet the needs of this currently nascent but massively important and growing space. AI vision will serve as the foundation of safety and efficiency for the future of logistics and manufacturing, and we’re leading the creation of that infrastructure and operation standard.”

“Cogniac aligns well with our growing portfolio of innovative technology companies that are transforming fundamental industrial operations,” said Lisa Lambert, Chief Technology and Innovation Officer at National Grid and founder and president of National Grid Partners. “We seek to amplify leaders with tenacious visions, those disrupting the status quo and creating a sustainable, renewable, and smarter future. We’re excited about Cogniac’s technology and its potential to drive the broad adoption of AI to create safer, more efficient manufacturing and logistics.”

Andre Turenne, vice president, Pathfinding & Incubation Investments at National Grid Partners, will join the Cogniac board.

“Cisco Investments is excited to support Cogniac in their growth journey to provide advanced AI capabilities to customers,” said Amit Chaturvedy, senior director, Corporate Development and Cisco Investments. “We are seeing a broad set of users looking to deploy massive data sets and customizable AI models to drive efficiency and resiliency of critical business processes. Cogniac’s strong value proposition for these users aligns well with Cisco’s focus on digital transformation of businesses.” 

About Cogniac Corporation

Cogniac offers the most advanced enterprise Visual Intelligence Platform. Cogniac enables businesses to realize superhuman levels of accuracy and efficiency in complex environments, from manufacturing to industrial, government to marine. Cogniac’s technology maximizes the value of the newest and most abundant form of data – visual data. By deploying Convolutional Neural Networks and Hyper Parameter Optimization, Cogniac’s platform achieves process performance optimization with very little technical knowledge required from human subject matter experts. For more information, visit Cogniac.ai.

About National Grid Partners

National Grid Partners (NGP) is the venture investment and innovation arm of National Grid plc., one of the largest investor-owned energy companies in the world. NGP invests for strategic and financial impact and leads companywide disruptive innovation efforts. The organization provides a multi-functional approach to building startups, including innovation (new business creation), incubation, corporate venture capital, business development and venture acceleration. NGP is headquartered in Silicon Valley and has offices in Boston, London, and New York. Visit ngpartners.com or follow us on Twitter and LinkedIn.

Cogniac Press Contact:
Catherine Adcock
Gateway Group
[email protected]
+1 (949) 574-3860

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

oToBrite Develops a Compact All-Weather Vision-AI Driver Monitoring System for the Commercial Vehicle Market

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HSINCHU, May 9, 2024 /PRNewswire/ — oToBrite, a leading provider of vision-AI ADAS solutions, has successfully developed a compact all-weather vision-AI Driver Monitoring System (DMS). With a high-sensitivity automotive-grade global shutter image sensor, the system achieves outstanding Quantum Efficiency (QE), providing clear image quality day and night. With oToBrite’s proprietary secondary optical system, the overall combination effectively enhances the accuracy and reliability of the vision-AI algorithm in all weather conditions. The DMS has already been successfully delivered to heavy commercial vehicle manufacturers, mitigating the potential risks of traffic accidents.

oToBrite’s vision-AI DMS utilizes self-developed AI 3D facial landmark technology to identify over 100 driver IDs and recognize driving behaviors, including smoking, phone use, distraction, fatigue. The system remains effective even when drivers wear Level 3 sunglasses or coated glasses, without compromising the detection and recognition capabilities of vision-AI.
The vision-AI DMS features a 940nm infrared and high-QE sensor, coupled with oToBrite’s proprietary optical design, ensuring clear images in strong light conditions (>120K lux) or during nighttime driving. Additionally, oToBrite’s vision-AI technology optimizes facial image quality, ensuring accurate AI recognition whether driving against sunlight, backlight, or through tunnels.
Miniaturization is a significant trend in driver monitoring applications. oToBrite further emphasizes that, compared to many systems on the market requiring multiple LEDs for sufficient illumination, the DMS only needs one LED to meet the system’s image quality requirements. In terms of hardware technology, oToBrite’s secondary optical system adjusts the LED light source to any angle to meet light distribution needs. Concentrating the light source can double the illumination, producing more reliable images for AI recognition. This also reduces optical component usage, enhances image clarity, and saves installation space and system costs.
According to the 2023 market research report by Gii, the DMS market reached $1.3 billion in 2022, with an expected Compound Annual Growth Rate (CAGR) of 8.3% by 2028, reaching $20.8 billion. Currently, several countries are drafting or have implemented regulations, and driven by regulatory demand, oToBrite’s compact all-weather vision-AI DMS has begun mass production, contributing to achieving Vision Zero. Read more: http://www.otobrite.com/en/block/index/99
About oToBrite 
oToBrite is a leading vison-AI ADAS/AD solutions provider. Based in Hsinchu Science Park, oToBrite has IATF 16949-certified clean room factory and many years of experience as an automotive Tier-1 supplier. Through comprehensive research and development capabilities, oToBrite provides vision-AI algorithms, ECU/domain controllers and automotive-grade/special purpose cameras.
Photo – https://mma.prnewswire.com/media/2406494/News_DMS0507.jpg

View original content:https://www.prnewswire.co.uk/news-releases/otobrite-develops-a-compact-all-weather-vision-ai-driver-monitoring-system-for-the-commercial-vehicle-market-302140971.html

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Artificial Intelligence

OMRON Selects IPfolio from Clarivate

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IP solution maximizes operational efficiency for leading automation company
LONDON, May 9, 2024 /PRNewswire/ — Clarivate Plc (NYSE: CLVT), a leading global provider of transformative intelligence, announced today that OMRON has selected IPfolio™, an intellectual property management software from Clarivate to transform their IP operations. This solution will enable OMRON, a leading automation company to make smarter decisions and plan strategically using IP data and analytical insights.

With IPfolio’s help, OMRON will be able to better manage its IP assets and keep up with the rising number of filings and data volumes, while eliminating manual processes. The IP team at OMRON can enhance their analysis and collaboration with stakeholders by using insightful data visualizations. This can lead to increased productivity, deeper insights, and faster decision-making with confidence.
Gordon Samson, President, Intellectual Property, Clarivate, said, “Our IP Management Software integrates data and services to empower our clients to remove friction, enhance collaboration and make better informed decisions. We are confident that IPfolio will help OMRON simplify the process of managing IP assets across the entire lifecycle.”
About ClarivateClarivate™ is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com
Media Contact:Jack Wan, External Communications [email protected]
Logo – https://mma.prnewswire.com/media/1159266/Clarivate_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/omron-selects-ipfolio-from-clarivate-302139322.html

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Artificial Intelligence

First-of-Its-kind Institute of Neurotechnology & Law Launches in the UK

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Most people don’t know that, due to recent groundbreaking scientific advances, existing technology can read thoughts, implant dreams, scan memory, tell if a subject is in love, and hack brains for PIN codes.
LONDON, May 9, 2024 /PRNewswire/ — Announcing the establishment of the Institute of Neurotechnology and Law (INL) – the first organisation of its kind in the world, crafted in response to the swift advancements in neurotechnology and the emerging concerns over human rights and privacy.

The world is about to change. Yet whilst AI steals the headlines, recent extraordinary advancements in neurotechnology have gone largely under the radar.
That is why we have set up the Institute of Neurotechnology and Law.
“We are at a critical juncture in the evolution of neurotechnology. The possibilities for improving human life are immense, yet so are the risks to privacy and autonomy,” stated Founder Harry Lambert. “The Institute of Neurotechnology and Law is dedicated to ensuring these technologies enable human flourishing without compromising our moral and ethical principles.”
The institute has already garnered significant attention, attracting some of the world’s foremost experts in neurotechnology, neuroscience, ethics, and law. These distinguished panellists will collaborate to address the pressing issues at the intersection of technology and human rights, aiming to influence policy both domestically and internationally.
For more information about the Institute of Neurotechnology and Law, upcoming events, and membership details, please visit www.neurotechlaw.com.
Media Contact: [email protected]. 07982678044

View original content:https://www.prnewswire.co.uk/news-releases/first-of-its-kind-institute-of-neurotechnology–law-launches-in-the-uk-302140545.html

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