Former senior Intel exec raises $24 million in Seed funding for AI-powered video security platform
Lumana's platform analyzes organizations' video in real-time to provide visibility when critical events occur
Lumana, which has developed a video security platform that uses artificial intelligence (AI) and distributed hybrid cloud architecture, has announced that it has raised $24 million in Seed funding from Norwest and S Capital.
Full list of Israeli high-tech funding rounds in 2024
Lumana's technology helps organizations to enhance security and safety measures, boost operational efficiency and streamline incident response. According to the company, the platform is capable of analyzing millions of hours of video in real-time across disparate locations, optimizing its AI models based on captured video to deliver meaningful insights and greater visibility of any environment.
The company is hoping to take advantage of a rapidly growing video analytics market, which Forbes Business Insights projects will more than quadruple from over $8 billion this year to almost $38 billion by 2030.
Lumana, which has offices in California and Tel Aviv, was founded by CEO Sagi Ben Moshe, who was once Intel's most senior Israeli executive. Ben Moshe left Intel in 2021 after the semiconductor giant shut down its RealSense computer vision division, headed by Ben Moshe, who also served as general manager of Intel’s Emerging Growth and Incubation Group following the acquisition of his 3D Imaging company in 2012. The executive team also includes Chief Scientific Officer Prof. Ron Kimmel and Chief Technology Officer Ofir Mulla.
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"Visual AI enhances our ability to extract data and make smarter decisions. Historically, getting useful information from video has been time-consuming, cost-prohibitive and manual," said Sagi Ben Moshe, founder and CEO of Lumana. "Lumana democratizes visual intelligence, ensuring that organizations of any size — from school districts and cities to commercial businesses and even Fortune 500 companies — can access the latest and greatest AI technology to improve situational awareness and extract impactful insights. Our platform empowers every user with the ability to accurately analyze massive amounts of footage and concentrate on events that truly matter."
Lumana's platform is built on a distributed hybrid cloud architecture. This approach integrates cloud and on-premise resources to run computation where it is needed most, providing efficient AI processing and more accurate event detection capabilities. Self-learning AI models that are deployed throughout the system enable Lumana to continuously get smarter, more accurate and more predictive based on the environment.
The Lumana platform is currently being used by customers to analyze over a million data points every second, including people, vehicles, faces, object attributes and activities, and identify trends.
