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RoboK an AI-powered computer vision and Cambridge Enterprise portfolio company, has secured $2.1m in Growth & Grant funding making the total amount raised, to $4m to date.
The latest funding round was led by Cambridge Enterprise in partnership with new and existing investors including; the Bristol Port Company, U-blox AG, Amadeus Capital Partners, Martlet Capital, the University of Cambridge Enterprise Fund managed by Parkwalk Advisors, Deeptech Labs and a number of angels. Furthermore the company has also secured grants from funders including Innovate UK and the Department for Transport.
The company is determined to deliver significant value to customers and unlock often overlooked potentials of existing CCTV systems through their computer vision solutions. By using computer vision to monitor on-site CCTV visual data, RoboK can report high-value insights to customers thereby helping to prevent on-site accidents, highlight process inefficiencies and spot potential signs of delays.
One sector where the technology is already proving to be beneficial is the UK port industry. The Bristol Port Company are one of RoboK’s satisfied customers after seeing over a remarkable 90% reduction in their potential safety breaches, through implementing the RoboK solution over a course of just three months. This significant achievement has led the company to invest in RoboK themselves.
The use of the Growth & Grant funding will enable RoboK to connect to more sites including ports as well as other industrial infrastructures, thereby supporting customers with day-to-day operations, particularly the monitoring of potential safety issues.
The injection of funding also allows for growth within RoboK themselves as they plan to hire additional commercial and product roles to further support their growth plans. This combination of continued funding and investor and industrial support, allows RoboK to continue to innovate and improve its AI computer vision solution to meet ever evolving customer needs.