Launch Factory has closed on its $6MM venture capital backed fund. The venture studio has partnered with a leader in computer vision AI technology to leverage groundbreaking IP and launch several new companies in 2022.
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The Artificial Intelligence Market is exploding with the Global AI market projected to grow from $36B in 2020 to over $360B by 2028. To capitalize on this growth, Launch Factory will be leveraging groundbreaking IP from an emerging leader in the computer vision AI space.This technology processes videos faster than GPU based solutions and provides a superior output at significantly lower costs.
Brad Chisum, CEO and co-founder of Launch Factory, says: “With this fund, Launch Factory will be accelerating the use of Computer Vision AI in real-world applications. These are exiting times and it is a privilege to be in a position to make an impact.” He co-founded Launch Factory alongside James Hereford and experienced partner Kimberly Davis King.
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In the coming weeks, Launch Factory will select the areas that new companies will focus on. Promising markets includes automotive self-driving, AI security processing, real time sports analytics and video search indexing.