Provizio, AI on-the-edge sensor pioneer, raises $6.2million to accelerate zero road deaths

Provizio, the Accident Prevention Technology company founded by Barry Lunn, is using AI on the edge software and hardware to revolutionise car safety, with their groundbreaking five-dimensional sensory platform that perceives, predicts and prevents car accidents in real-time and beyond the line-of-sight.

Provizio has closed their seed investment round of $6.2million entirely over zoom, with Venture Capital, industry and technology veterans such as Bobby Hambrick, the founder of Autonomous Stuff and the founders of Movidius (the Intel acquired leader in mobile vision processor chip design) along with the European Innovation Council (EIC) and ACT Venture Capital, who also invested in Arralis, Lunn’s previous company. Involved in Provizio is also Dr. Scott Thayer and Prof Jeff Mishler formerly of Carnegie Mellon robotics, which holds roots in all major autonomous efforts, Google/Waymo, Argo, Aurora and Uber.

The Provizio team is made up of experts in robotics, AI, vision and radar sensor development who are focusing their efforts on building an augmented, guardian angel platform that prevents accidents and optimises safety in order to save lives.

Speaking on the investment, Bobby Hambrick, founder AutonomouStuff (Hexagon HEXA B) comments “It’s not so often a team of this calibre, with a market of this scale and a mission of this magnitude comes about so I’m delighted to have been an advisor from the outset and now an investor in the future of Provizio.” 

“We have known Barry for a long time.  We backed him in Arralis from seed to a successful acquisition with very strong returns. It was a great experience and we knew Barry would want to go again after an even bigger opportunity. Barry has assembled a world-class team with deep AI, computer vision and radar expertise who are developing a unique platform to solve the enormous challenge around accident prevention.”

Currently there are 1,350,000 road deaths every year, 50,000,000 injuries at an annual cost of over $2,000,000,000,000 ($2 trillion). In the US alone car accidents cost 2% of GDP.  94% of those accidents are caused by human error, errors current accident prevention systems cannot stop. Today’s emergency braking systems can only measure approximately 40m ahead or 1 second reaction time at highway speeds. To perceive, predict and prevent accidents you need to 10x the capability of these systems and Provizio’s Accident Prevention Technology Platform combines proprietary vision sensors and machine learning to do just that. The radar backboned, AI on-the-edge sensor suite with ultra-long-range and foresight capabilities can prevent collisions at high speed and in all weather conditions.

Barry Lunn, CEO of Provizio added “One point three five road deaths to zero drives everything we do at Provizio. We have put together an incredible team that is growing daily. AI is the future of automotive accident prevention and Provizio 5D radars with AI on-the-edge are the first step towards that goal.”

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