AI Transforming Video Assets startup Deep North secured $16.7M in Series A-1 funding

Deep North, a California based Artificial Intelligence company transforming video assets into custom-tailored analytics, has now secured $16.7 million in Series A-1 funding.

Deep North was founded by Rohan Sanil. It is a SaaS company offering AI products capable of reading any video data from any of the existing or new brands of security cameras. With the help of its AI platform, customers can retrofit existing security systems with analytics features for the purpose of tracking consumer behaviour, purchasing habits and more, eliminating the need to install new video hardware

Nicholas Brathwaite, Founding Managing Partner at Celesta Capital, said, "AI video analytics software empowers business owners with comprehensive data about their customers’ behaviour and, with that information, the cost savings and growth opportunities for brick and mortar businesses are remarkable. This is how brick and mortar businesses will compete with an increasingly digital consumer marketplace."

Rohan Sanil, CEO and co-founder of Deep North, said, "Even before a global pandemic forced retailers to close their doors, brick and mortar businesses were struggling to compete with a rapidly growing online consumer base. As stores open again, retailers must embrace creative digital solutions with data-driven, outcome-based CV and AI solutions, to better compete with online retailers and, at the same time, accommodate COVID-safe practices."

The round was backed by the Celesta Capital and Yobi Partners with participation from Conviction Investment Partners.

The AI startup, as of now, has plans to use the new funds to make key new hires and expand services at scale, notes the announcement.