Turn stupid cameras into intelligent video assistants with Spot AI

Most people have become accustomed to video cameras passively monitoring their homes and workplaces. But what if these cameras could actually take action on our behalf – to protect us, for example? That's the promise of San Francisco-based scaleup Spot AI, which will announce today that it has successfully closed a $31 million funding round.

“Most artificial intelligence is digital technology that just sits on a computer or other device,” says Rish Gupta, CEO of Spot AI. “We’re bringing AI into the physical world for the first time.”

By this he means that Spot AI's technology is able to analyze video images, decide how to respond accordingly, and then put that decision into practice. In a factory environment, for example, that might mean deciding that a forklift driver is getting too close to another worker – and automatically braking the truck. In retail, this might mean recognizing that a customer is walking up to a counter to pay but no salesperson is available, and mobilizing help accordingly. Elsewhere, it could mean that you discover that an unauthorized person is attempting to access a website or property; This could trigger actions such as turning on the lights, repelling the intruder over a loudspeaker, or alerting the police.

“We are betting our company on our ability to turn video cameras into AI teammates,” says Gupta. “Most cameras are dumb, but our technology turns them into powerful tools that can increase safety, strengthen security and improve operations.”

Spot AI's technology is based on the principle of large language models, where the software learns from existing videos so that it can infer context and act accordingly when presenting new images. “Cameras have always had eyes, but now we're equipping them with brains to analyze what they see and hands to respond to it,” says Gupta.

Users don't even need to buy new devices. Spot AI's tools work with video streamed from any IP camera – any camera that can send footage over the Internet or a local network. Customers only get a bit of hardware – a box that can process the video data, so their existing networks don't have to struggle with managing huge amounts of data.

Importantly, customers also have control over how the tool responds to a given situation – and can repeat this over time as they become more comfortable with the technology. First, you could, for example, set up the system so that it triggers an alarm when a certain event occurs – for example, an impending accident. Over time, the facility could evolve into more active interventions, such as automatically braking a vehicle.

The company has grown rapidly since the first round of investment four years ago. The company now has 1,000 customers across industries such as manufacturing, automotive and education – where school leaders use it to keep students safe – and sales have increased tenfold in the last two years.

Many of these customers are thrilled with the results they achieve. “Spot AI has taken us from a video surveillance system to fully leveraging video AI to drive business results,” says Cornel Stewart, engineer at industrial foam manufacturer Elite Comfort Solutions. “Not only have we seen a reduction in injuries and incidents, but the system’s ability to identify potential threats has also allowed us to address issues before they escalate.”

Prior to the funding announced today, Spot AI had raised $62 million in capital, with all early investors participating in subsequent rounds. Today's Series B funding is led by a strategic partner, Qualcomm Ventures. New investors include GSBackers, MVP Ventures and Cheyenne Ventures. Spot AI's existing shareholders, Scale Venture Partners, StepStone Group, Redpoint Ventures and Bessemer Venture Partners, also increased their shares.

Tushar Gupta, senior director of Qualcomm Ventures at Qualcomm Technologies, says Spot AI's technology is closely aligned with his own vision of how AI will solve real-world challenges. “We are excited to invest in Spot AI as the company fulfills its mission to transform video signals into a powerful tool for industries around the world,” says Gupta. “Spot AI’s solutions help companies quickly derive insights from their customers’ video feeds and turn them into a valuable resource that improves security and daily operations.”