C2RO, a Montreal-based provider of enterprise grade cloud A.I. services, has raised $2.25 million in funding.
The round was led by Fonds Innovexport, with participation from GCI Capital Inc., Harbor Street Ventures, Tandemlaunch, Ministère de l’économie et de l’innovation, and several angel investors in Canada, the U.S. and Europe.
“We led the investment in C2RO because it has an excellent execution team, a significantly expanding Tier1 customer base, and a formidable technology position in the field of real-time machine vision A.I.,” said Richard Bordeleau, President at Fonds Innovexport. “C2RO will have a tremendous impact on the industry and we want to support them through this journey.”
C2RO uses proprietary real-time cloud AI to provide data driven businesses with analysis and recognition tools to transform their physical spaces into personalized and interactive smart environments.
The company intends to use the funds to accelerate the commercialization of its enterprise grade cloud A.I. services.
According to the company, the global market for A.I. analytics solutions in retail and commercial real estate will exceed US $5 billion by 2022 and is growing at 40 percent CAGR. The growth is being fueled by global retail and commercial real estate brands that are blending digital and physical assets to provide consumers with increasingly frictionless and highly personalized experiences.
C2RO introduced C2RO EngageTM, a real-time cloud based facial recognition platform, in June 2018. They call it the world’s first real-time cloud based facial recognition platform.
In March of 2019, the company augmented its A.I. services portfolio with PerceiveTM, an anonymous customer journey analysis platform and demographic classification system.
For C2RO, Engage and Perceive are the “two key ingredients to enabling the transformation cycle that is taking place in the retail and commercial real estate industries toward highly personalized and data driven interactive smart environments.”