Computer Vision Startup Intenseye Targets $65M In Series B Funding, Expecting $300M Valuation

Computer Vision Startup Intenseye Targets $65M In Series B Funding, Expecting $300M Valuation

In a whirlwind display of investor appetite for AI, five-year-old startup Intenseye is expecting its upcoming funding round to result in a valuation of $300 million. Originally founded in Istanbul by Sercan Esen and Serhat Cillidag, Intenseye is known for its application of computer vision to enhance workplace safety. By integrating with existing surveillance systems, Intenseye's software harnesses machine learning to review videos and images for potential safety violations, ranging from incorrect body posture to danger zone breaches. Its capabilities have secured the provider blue-chip clients including Coca-Cola and Coats.

From its 2021 valuation below $100 million, following a Series A funding round led by Insight Partners, Intenseye is set to take a giant leap. The upcoming Series B funding, steered by Lightspeed Venture Partners, is expected to amount to $65 million and bring the firm’s valuation to $300 million. This follows the trend of investment flowing into computer vision solution providers for workplace safety. For example, in 2023 Voxel secured $12 million in funding led by manufacturer Rite-Hite. Voxel’s solution integrates with existing security cameras and identifies hazards such as near-miss vehicle collisions, blocked exits and spills, sending real-time alerts to on-site workers. In 2022, Protex AI and Buddywise received $18 million and $1.1 million respectively to enhance workplace safety using computer vision.

The industrial sector is clearly moving towards a heightened focus on safety, as evidenced by Verdantix survey results showing 61% of industrial decision-makers plan to amplify investments in achieving safer operations. However, industrial applications of computer vision extend far beyond just safety. It is increasingly being utilized for inspections, such as defect detection and quality management. Providers catering to these specific use cases have also experienced a significant funding influx over the past 12 months. Overview.ai, which specializes in using computer vision for defect detection, raised $10 million in a Series A funding round in February 2022. Meanwhile Deepomatic – which offers solutions for use cases ranging from anomaly detection to inventory management for telecom and utilities – garnered $10.5 million in a Series B funding round in December 2022. As the industrial sector deepens its commitment to both safety and innovation, the integration of these computer vision solutions will undoubtedly play a transformative role.