SAN DIEGO, Jan. 3, 2022 /PRNewswire-PRWeb/ -- Launch Factory, a venture studio based in San Diego, has recently raised $6 million dollars to fund its operations for 2022. This successful round of funding marks the beginning of an exciting upcoming partnership with the goal of launching new computer vision AI companies.
The Artificial Intelligence Market is exploding with the Global AI market projected to grow from $36B in 2020 to over $360B by 2028. To capitalize on this growth, Launch Factory will be leveraging groundbreaking IP from an emerging leader in the computer vision AI space.This technology processes videos faster than GPU based solutions and provides a superior output at significantly lower costs.
Brad Chisum, CEO and co-founder of Launch Factory, says: "With this fund, Launch Factory will be accelerating the use of Computer Vision AI in real-world applications. These are exiting times and it is a privilege to be in a position to make an impact." He co-founded Launch Factory alongside James Hereford and experienced partner Kimberly Davis King.
In the coming weeks, Launch Factory will select the areas that new companies will focus on. Promising markets includes automotive self-driving, AI security processing, real time sports analytics and video search indexing.
About Launch Factory
Launch Factory (http://www.launchfactory.com) is a venture studio based in San Diego, California with a unique pathway for launching successful companies. Their mission is to deliver new levels of startup success by combining vetted ideas, talented founders, and purpose-driven incubation.
LinkedIn Profile: http://www.linkedin.com/company/launch-factory-sd/
Bradd Schofield, Launch Factory, +1 (949) 614-9641, [email protected]
SOURCE Launch Factory