PointGrab, a Hod Hasharon, Israel-based developer of advanced sensor technology for smart buildings, received a US$7m in funding.
Backers included new partners Philips Lighting and Mitsubishi UFJ Capital Co. Ltd, existing investor ABB Technology Ventures and others.
The company intends to use the funds to advance its sensor technology.
Led by Haim Persky, CEO, and Itamar Roth, Chief Business Officer, PointGrab is a machine learning and computer vision company that provides smart sensing solution to the building automation industry.
Its smart sensing solution, CogniPoint™, provides occupant activity analytics to enable effective building space management and enhance operational efficiency. By embedding deep learning neural networks technology into miniature and connected optical sensing devices, the sensing solution provides analytics data about the detection of occupants’ locations, count, and movements.
The company has installed smart sensors in numerous customer sites as part of ongoing collaboration projects while the commercial release will be available in early 2017.