CPE News (6.11.2024) – Motion Gestures has raised US $2 million in pre-series A financing led by CCAA with participation of Keiretsu Forum, Propel(x), and Golden Triangle Angel Network (GTAN).
The latest financing brings total capital raised since startup launch to US $10 million, including US $4.5 million in Canadian Government grants for AI-based Computer Vision research.
Founded by Kashif Kahn and Arash Abghari, Kitchener, Ontario based Motion Gestures is a developer of AI software for hand tracking and gesture recognition use cases with 3rd party cameras.
photo credit: Motion Gestures
News Release
Motion Gestures closes USD 2 million in pre-A financing led by CCAA, bringing total capital raised since startup launch to USD 10 million
Company has developed breakthrough AI software for sophisticated camera-based hand tracking and gesture recognition user interface applications
WATERLOO, ON, June 11, 2024 /PRNewswire/ – Motion Gestures, a global leader in AI software for hand tracking and gesture recognition use cases with 3rd party cameras, announced today that it has closed USD 2 million in pre-series A financing led by CCAA. The latest financing brings total capital raised since startup launch to USD 10 million, including USD 4.5 million in Canadian Government grants for AI-based Computer Vision research.
Motion Gestures was founded to address major industry issues in camera-based hand tracking and gesture recognition software by leveraging advances in Artificial Intelligence and Machine Learning. Its breakthrough AI/ML platform increases hand tracking accuracy to nearly 100% while reducing gesture development time and costs by 10x. Software supports any type of camera (e.g. RGB, NIR, Depth), of any resolution (including, ultra-low resolutions such as 32×32 pixels), and in any position (e.g. front-facing, ego-centric). Hand tracking utilizes a 21 joints-based skeleton for each hand in camera view and provides real-time positional coordinates. All types of gestures are recognized, including dynamic gestures at low camera speeds (e.g. 20 fps). Custom gestures can also be built without conventional training data collection requirements. The software is deployable on ordinary processors and number of tracked hands can scale with computational resources.
The company is currently engaged with more than 150 OEMs in dozens of industry verticals around the world regarding sophisticated contactless user interface applications.
Mr. Alan Yang, Vice President of CCAA, said: “We are very impressed with Motion Gestures breakthroughs in camera-based hand tracking and gesture recognition software and consider it only a matter of time before camera-based user interface becomes as ubiquitous as a computer mouse or a touch screen”. Mr. Kashif Kahn, CEO and Co-Founder of Motion Gestures, said: “We appreciate CCAA’s trust as lead investor and are looking forward to building out the firm with their support and guidance”.
In addition to CCAA, other investors in the round are Keiretsu Forum, Propel*, and GTAN.
About Motion Gestures
Motion Gestures was founded in 2017 in Waterloo, Canada to disrupt camera-based hand tracking and gesture recognition technology by leveraging advances in AI/ML. The company’s breakthrough software is a significant advance over conventional solutions and can be used for sophisticated touchless interface with any camera, in any position, on any platform, in any sector. Evaluation SDKs are available free of charge.
For demo videos, please visit our YouTube channel: https://www.youtube.com/@MotionGestures/playlists
For additional information, please contact: info@motiongestures.com, https://www.motiongestures.com/
SOURCE Motion Gestures