August 2019 Summaries

Voxel51, an AI startup based in Ann Arbor, Michigan, has secured $2 million in seed funding from eLab Ventures to enhance its video understanding platform, which is designed for applications in automotive, smart city, and security sectors. Unlike traditional AI solutions that focus on static images, Voxel51 specializes in processing video to automatically identify and classify objects, actions, and behaviors with high accuracy using computer vision and spatio-temporal deep learning models. The funding will enable the company to continue advancing its technology for large-scale video processing, facilitating real-time, data-driven decision-making. Since its inception in 2016 by University of Michigan professors Dr. Jason Corso and Dr. Brian Moore, the company has conducted successful pilots and received a $1.25 million NIST grant for public safety video analytics, totaling its investment to $3.25 million.