Many people are accustomed to video cameras passively monitoring their homes and workplaces, but what if these cameras could actively intervene to enhance safety and security? That’s the vision of San Francisco-based scale-up Spot AI, which has just announced the successful completion of a $31 million funding round.
Spot AI’s technology analyzes video footage, makes decisions, and takes action accordingly. In a factory, this could mean detecting that a forklift driver is too close to a worker and automatically applying the brakes. In a retail environment, it could recognize when a customer approaches a counter but no sales assistant is present, prompting staff to assist. In other settings, it might detect an unauthorized person attempting to enter a property, triggering responses like turning on lights, issuing a warning over a loudspeaker, or notifying law enforcement.
Before today’s announcement, Spot AI had raised $62 million in capital, with early investors continuing to participate in each funding round. The new $31 million Series B round is led by strategic partner Qualcomm Ventures, with new investors GSBackers, MVP Ventures, and Cheyenne Ventures joining. Existing shareholders, including Scale Venture Partners, StepStone Group, Redpoint Ventures, and Bessemer Venture Partners, also increased their stakes.