Resonai raises $20M Series A extension to accelerate expansion

In Augmented Reality News 

October 26, 2022 – Resonai, an artificial intelligence (AI) and computer vision company that provides an operating system for the built world, has recently announced that it has closed a USD $20 million Series A Extension funding round.

The new funding brings Resonai’s total amount raised in the Series A to USD $30 million. The company stated that funding will be used to finance the continued development and expansion of its proprietary ‘Vera’ platform, as well as to support sales and marketing programs in order to build a pipeline for the company’s next round of growth throughout the US, Asia and Europe.

Resonai’s enterprise computer vision technology empowers building owners and operators to refactor their properties into new digital assets. Vera, Resonai’s core platform, serves as a new digital infrastructure that enables the integration of technologies such as the Internet of Things (IoT), AI, and augmented reality (AR) in order to help improve physical buildings and properties.

Vera facilitates hyper-accurate, location-based applications and experiences across the building lifecycle for relevant stakeholders such as property managers, facility managers, and consumers in commercial spaces such as malls, retail, entertainment venues, offices, and hospitality settings, according to the company.

“All over the world, commercial real estate owners and operators are faced with the reality that their portfolios and traditional business models are under pressure and that their survival is increasingly threatened by broad shifts in society and consumer behavior toward more modern, hybrid, digital ways of living and working,” said Resonai founder and CEO Emil Alon. “At Resonai, our mission is to cultivate a new kind of built environment that can thrive in this rapidly changing world. We do this by empowering commercial real estate owners and operators to transform their physical properties into operationally efficient, intelligent digital assets that enable innovative experiences and create new data-driven revenue models.”

Integrating computer vision with highly accurate indoor mapping and location tracking services, Vera creates an intelligent digital twin of any commercial building. This digital twin then serves as an operating system for a wide variety of applications aimed at improving operations and deploying engaging consumer experiences while also opening up new, non-traditional revenue streams.

Building owners and marketers can use Vera to launch innovative AR experiences and applications such as digital concierge services with indoor navigation and wayfinding for personal assistance and enhanced loyalty programs. They can also convert their properties into a 3D digital canvas to create new media units, launch mixed-reality offerings, and offer personalized, AR immersive experiences that can be accessed through visitors’ mobile devices.

Vera also serves as a tool for property and facility managers, allowing them to visualize and access their buildings anywhere and at any time. This means they can more efficiently control their IoT devices and leverage integrated data to manage energy usage, occupancy, HVAC, and more across portfolios. Managers can proactively identify maintenance problems; speed up, prioritize, and accurately pinpoint required repairs; increase customer satisfaction through space and revenue optimization tools like virtual tours; and launch AR training to effectively train workers within individual buildings on the equipment they will be working with.

Investors in the round included: Meitav-Dash, a TSE-traded Israeli institutional investment house; Blue Square Israel, the second-largest retail chain in Israel; and Irani Ventures, the investment arm of Irani Corp (Factory 54), the exclusive representative of the world’s leading fashion brands in Israel. Resonai also noted that since its founding, it has partnered with a growing list of retail companies, including one of the largest wholesale mall operators in the world.

For more information on Resonai and its AR-powered solutions for building owners, please visit the company’s website.

Image / video credit: Resonai / YouTube