Edge Impulse gains funding to grow ecosystem of edge analytics applications
Edge Impulse, which provides a platform for developing intelligent devices using embedded machine learning, has secured a round of funding from Momenta Ventures. Joining Momenta in the round is new investor Acrew Capital along with return backers Fika Ventures and Liquid 2 Ventures. The company has raised a total of $5.4M in seed funding.
Edge Impulse was founded by Zach Shelby and Jan Jongboom and, according to the announcement, is well positioned to become a leader in edge intelligence, leveraging the convergence of low-cost, high-performance microprocessors and low-power, wide area networks such as LoRaWAN, to create intelligent, extremely low-power and wireless devices. 2,700 projects have been created on its easy-to-use and extensible platform since January.
“Machine learning for edge devices is already beginning to enable huge value for companies working with sensor data,” notes Zach Shelby. “Together with Momenta Ventures we aim to make this part of digital transformation across all industrial and commercial applications.”
Today, almost 99% of sensor data goes unused given the cost to transmit this back to applications. Edge Impulse solutions leverage all sensor data by reading and processing these at the edge, making intelligent decisions and transmitting back outcomes and actions.
Since its platform launch in January, Edge Impulse has formed partnerships with hardware providers Eta Compute, Arduino and ST Microelectronics.
This investment is the fifth out of Momenta Ventures’ Edge Ecosystem Fund. The fund is intended to accelerate innovative industry solutions powered by Low Power Wide Area Networks with a focus on open standards and ecosystems such as LoRaWAN. Investors of this fund are strategic stakeholders in the LPWAN ecosystem.
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Article Topics
AI/ML | edge applications | edge devices | Edge Impulse | IoT | Momenta Ventures | sensors | TinyML | wireless
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