US-based automated video monitoring platform Matroid closed a $10m series A round yesterday co-led by Intel Capital, chipmaker Intel’s corporate venturing arm.
The round was co-led by New Enterprise Associates, the venture capital firm that had previously supplied $3.5m in seed capital for Matroid.
Matroid, which was founded by faculty from Stanford University, develops computer vision technology, and its first product was launched in March this year.
The platform in question allows customers to monitor multiple video feeds using machine learning-equipped detectors that can pick out people, events and objects that are of interest to the user.
The company’s monetisation strategies initially include charging Fortune 500 companies to monitor brand mentions and key executive appearances on TV, according to TechCrunch, while smaller businesses can for example comb CCTV footage for anomalies.
Reza Zadeh, founder and CEO of Matroid, said: “We founded Matroid knowing we would have to invent entirely new user interfaces to marry machine learning and computer vision, leading to the creation and education of new markets.
“With this new round, we look forward to working with Intel to push the boundaries of what is possible in video analysis on a wide range of computing chips both in the cloud and on edge.”