Luxonis, a robotics and industrial automation company behind the OAK camera and DepthAI software, raised $14 million in a Series A round to speed up its commercial expansion.
Denali Growth Partners led the investment round with participation from Taiwania Capital.
With fresh funds, Luxonis plans to expand R&D, go-to-market, and engineering-support teams to work directly with more customers on production deployments. The fresh capital will further support the next generation of AI architectures, allowing the startup to continue leading the industry in edge AI capability.
Founded in 2019, Luxonis brings the intelligence of AI into the physical world by combining visual sensors, on-device computation, and open software into a unified platform that simplifies robotic vision.
Following a highly successful Kickstarter campaign, the company has grown to serve thousands of customers, including more than 60 Fortune 500 companies and 17 of the Dow Jones 30.
Bradley Dillon, Luxonis CEO, said, “After more than seven years building Luxonis with the support of friends and family, we’re delighted to close our first institutional round and welcome Denali and Taiwania to our board. They bring a wealth of experience that will help us accelerate our already rapid growth as we give machines the human perception they need to take on the world’s physical work.”