Innosphere Fund Invests in Boulder-based, privacy-focused artificial intelligence camera company
The Innosphere Fund, Colorado’s leading seed-stage venture capital fund, has announced their investment in Boulder-based smart hardware and software startup company, Boulder AI. Boulder AI will use the investment from the Innosphere Fund to accelerate the product development plan to serve existing and new customers, fund current and anticipated key management hires, and complete IP work.
Boulder AI is a privacy-focused artificial intelligence (AI) camera company founded in 2017. Boulder AI’s deep learning camera systems, software, and AI algorithms provide solutions for smart city applications, business intelligence, logistics and retail analytics. The system provides real time analysis and reporting for object monitoring, advanced traffic control, and retail analytics. Customers have deployed Boulder AI’s cameras and technology to collect information such as pedestrian counting, traffic counting, and lane monitoring. The desired analytics are then delivered straight to the customer via the Boulder AI cloud application.
“Multiple customers described Boulder AI’s product as uniquely capable of addressing critical emerging needs,” said Mark Newhouse, Innosphere Fund General Partner. “Boulder AI has a differentiated product, an experienced team, and a rapidly growing opportunity to provide AI hardware and software to a variety of markets.”
Boulder AI’s technology allows all of the data processing to be done inside the camera which does not require the costly combination of broadband connections, servers, and on-site data storage. “Boulder AI is radically less expensive and easier to maintain compared to current non-edge options,” said Bryan Schmode, CEO of Boulder AI.
Edge computing means data processing power is at the edge of a network instead of in a cloud or a central data warehouse. “Our ability to process video and create insight within the camera cuts out an estimated 50% of the cost of current systems. But we don’t just build cameras, we bring specific applications to life with expert consulting and the best AI software solutions on the market in order for our customers to make better decisions based on real-world data,” said Schmode.
Boulder AI has worked with local government organizations to monitor and implement solutions for roadways, venues, and worksites. Their smart cities solution is cloud-agnostic, which means customers are not limited by up- and down-times.
For more information on the Innosphere Fund and this investment, contact Joey Davis, Principal of the Innosphere Fund, at [email protected] or 970.818.7008.
About Boulder AI
Boulder AI engineers, manufactures and markets the world’s most powerful visual solutions available for extraction of relevant actionable data on an unprecedented scale. Utilizing the latest in GPU technologies, Boulder AI enables artificial intelligence (AI) algorithms on its devices at the edge, and leverages any number of cloud service providers to complete its managed services portfolio. Boulder AI customers can make smarter, faster, and better decisions based on Boulder AI’s accurate measurements and enhanced intelligence services. https://www.boulderai.com
About the Innosphere Fund:
The Innosphere Fund is a seed-stage venture capital fund that leads seed-stage investment rounds in companies that are likely to achieve a near-term exit through a corporate acquisition. Made available to Innosphere client companies that meet certain qualifications, such as being Colorado-based and having a motivated team, the Fund was formed to accelerate the growth and exit of Innosphere’s client companies. www.innosphere.fund
Innosphere is Colorado’s leading science and technology incubator, accelerating the success of high-impact startup and scaleup companies. In addition to the incubation program, Innosphere has office and wet lab real estate, and a seed stage venture capital fund.
Innosphere’s program focuses on ensuring companies are investor-ready, connecting founders with experienced advisors and early hires, making introductions to corporate partners, exit planning, and accelerating top line revenue growth. Innosphere supports entrepreneurs in many industries, including but not limited to: bioscience, medical device, B2B software solutions, FinTech, smart cities, and artificial intelligence. Innosphere has been supporting startups for over 20 years, has locations in Fort Collins, Boulder, Denver, and Castle Rock, and is a non-profit 501(c)(3) organization with a strong mission to grow Colorado’s entrepreneurship ecosystem. innosphereventures.org