SAN DIEGO, Jan. 24, 2022 /PRNewswire/ -- CamerEye(™), a San Diego company that is reinventing swimming pool and backyard safety with the first Artificial Intelligence (AI) Smart Fence and safety ecosystem, has just closed the last tranche of its seed-round funding series for a total of $1.1 million. CamerEye's system is uniquely designed to detect humans and provide faster distress and near-drowning detection to help save lives.
Major investors in this seed round include members from San Diego Sports Innovators (SDSI), several venture capitalists, and a multitude of angel investors.
Founder and CEO Sai Reddy, who was a competitive swimmer, holds a Ph.D. in AI and Data Sciences and was part of the founding team at PXiSE Energy Solutions, a subsidiary of Sempra Energy, which was recently acquired by Yokogawa Corporation, decided to use his knowledge and experience in building AI technology to address one of the biggest problems - water safety. Reddy and team developed and trained the CamerEye ecosystem for two years pre-launch with more than 30+ beta installations.
CamerEye launched in March 2021 focused on swimming pool safety using advanced AI technology with enthusiastic support of investors, pool safety experts and the pool builder and service industry who saw the need for such technology.
CamerEye's unique AI safety system provides very early-stage detection by creating a virtual smart perimeter around a pool via an AI overhead camera system that can detect the difference between a human and an animal and other moving objects, and detect early water distress behavior, reducing the false alarms experienced from monitoring camera systems.
"We understand the problem of pool safety and the notion of distress and near drowning using lifeguarding principles, which can help us make pools safer in a much more informed way," says Reddy. "We strongly believe that CamerEye will help boost peace of mind and safety for millions of pool owners across the nation."
The company is focusing its future on backyard safety and analytics. CamerEye has three patents pending that leverage AI models to constantly improve with time. Four additional AI analytics capabilities will follow in 2022, enhancing the value of CamerEye to existing and additional customer groups.
"CamerEye's AI-based camera system changes the game for homeowners with pools and spas by providing a never-before level of smart security and analysis of operating systems ensuring water and backyard safety," said John Sarkisian, investor and advisor for CamerEye, industry chairman for San Diego Sport Innovators and managing director for Charles Towne Holdings, LLC, a capital markets and financial advisory firm.
CamerEye company members are also actively involved with industry standards groups including ASTM International, US National Water Safety Action Plan and National Drowning Prevention Association (NDPA), providing a voice and expertise on advanced technology for water safety. CamerEye is a PHTA member, Carecraft member as well as part of multiple buying groups.
CamerEye's mission is to make the world a safer place and help save lives by reinventing swimming pool and backyard safety using sophisticated, advanced technology and artificial intelligence detection solutions that provide peace of mind and help to reduce risk. The company exists to continually reinvent and refine safety using technology and artificial intelligence and take safety to a deeper level.
Michele Moninger Baker
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