October 26, 2021
Deep North, a California startup that uses artificial intelligence (AI) with computer vision to analyze video from security cameras, has raised $17 million in series A funding round.
The financing was led by Celesta Capital and Yobi Partners with participation from Conviction Investment Partners. The investment is aimed at scaling the business.
The Deep North platform uses computer vision to identify customer behavior in retail outlets such as grocery stores, fashion outlets, shopping malls and quick service restaurants (QSR).
Companies can use the software to analyze security footage from their premises, predicting customer footfall at specific times or how long is spent waiting for each order.
The Deep North platform also has mask detection capabilities to retailers can monitor large crowds and receive real-time alerts.
“We are convinced that the physical world will be digitized in the next decade to provide the same actionable insights as we see in the online world,” said Tom Nijm, founder and chief executive of Yobi Partners.
Value across Verticals
The funding is the latest in a string of announcements from computer vision providers aimed at the enterprise.
Cameras and other connected devices like drones support image recognition across multiple vertical industries, identifying people or objects for the purposes of automating quality control, health and safety and claims appraisals.
Pure-play computer vision was expected to account for $52 billion in cumulative revenues from 2019 to 2025, according to research firm Omdia. Including data analytics, Omdia expects computer vision will net an additional $51 billion in that period.
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