Smart building startup gets million to spread its IoT sensors

CogniPoint, PointGrab’s flagship product for making building Courtesy)management smart The smart building market will be worth more than $20 billion in five years &nbspGedalyah Reback4 hours ago Israeli startup PointGrab announced a $7 million investment Tuesday with participation from Philips, Mitsubishi UFJ Capital (MUCAP), ABB Technology Ventures (ATV) and Japan’s MUFG. Their flagship product is CogniPoint, a sensor working off deep learning neural networks to provide analytics on space management and operational efficiency. It also looks to optimize energy efficiency. Using deep-learning algorithms on an ARM-based processor, designed to detect movements and the number of people in a given location, as well as provide precise positioning. The company also boasts support from London-based EcoMachines Ventures, Flex, and Saar Wilf. “CogniPoint’s ultra-intelligent edge-analytics sensor technology will be a key facilitator for capturing critical…

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