SUNNYVALE, Calif., April 10, 2019 (Newswire.com) - Inspirit IoT Inc. an embedded intelligence company, has been selected from among more than 800 startups to participate in Plug and Play’s Internet of Things Accelerator Program this summer. Plug and Play (PnP) is the world’s largest technology accelerator and venture fund. Plug and Play's IoT Accelerator sponsors include Takenaka, Panasonic, ADT, Rockwell Automation and Fujitsu.
“Inspirit IoT is a leader in high-performance edge intelligence for real-time, life- and mission-critical applications,” said Dr. Kyle Rupnow, co-founder and CTO of Inspirit IoT. “Plug and Play's accelerator will allow us to open innovate with global industry leaders to embed their domain-specific machine learning at the edge. In-market proof-of-concept collaborations with corporate partners will ensure we deliver product market fit against their desired customer experiences."
In 2018, Zion Research valued the global embedded intelligence industry at around USD 30.5 billion. Inspirit IoT's IPs are designed for high-performance, chip-agnostic embedded-intelligence deployments, all based on state-of-the-art industry-specific machine learning applications. Embedded Intelligence is expected to reach approximately USD 77.3 billion by 2025, at a CAGR of 14.2 percent between 2019 and 2025.
Recent examples of Inspirit IoT's open innovation efforts include projects with Asia's leading system integrator NCS, where the addition of Inspirit's audio event detection (audio machine learning) was designed as a hardware component to control their pan-tilt-zoom security camera. Audio event detection monitors for suspicious events (e.g., glass breaking, gunshots, screaming), guides the camera to the location of the event and appropriately responds (e.g., begin recording, notify authorities). The Inspirit audio intelligence provides low-latency analysis, response and control for more intelligent safety, security and surveillance applications.
Inspirit IoT also worked with an embedded surveillance client to optimize their machine learning for a computer vision deployment. Their embedded platform optimizations reduced the latency of the machine learning inference by 10x, followed by additional network compression of 34.5x to further reduce computation, storage and bandwidth requirements.
“Inspirit IoT is helping to change the way that companies deliver embedded intelligence,” said Sobhan Khani, VP of Plug and Play’s IoT and Mobility platforms. “The company has an extremely talented team and compelling proposition. We are excited to have them in this next batch.”
Inspirit IoT will participate in Plug and Play's three-month business development program and have the chance to meet with their network of over 280 corporate partners. This program will give the company the opportunity to collaborate one-on-one with corporations, VCs and other startups in exclusive networking events, private deal-flow sessions and more.
Inspirit IoT was incubated in 2011at the Advanced Digital Sciences Center of Singapore – an affiliate of the University of Illinois at Urbana Champaign, founded in 2009 under support from Singapore‘s Agency for Science Technology and Research. The research aimed to address the needs of creating energy-efficient hardware accelerators of computation-intensive algorithms in an automated way as well as higher hardware design productivity and quality.
Inspirit IoT's award-winning technology was commercialized in June 2016 at EnterpriseWorks at the Research Park of UIUC. Inspirit IoT was awarded two National Science Foundation (NSF) Small Business Innovation Research (SBIR) grants and the UIUC I-Start Accelerator grant to conduct research and development (R&D) on automating design and deployment of hardware for accelerated machine learning. Series A company Inspirit IoT is also funded by a leading developer of embedded AI sensing platforms, Senscape Technologies.
Inspirit IoT is a registered Intel IoT Solutions Partner, IBM Business Partner and Siemens Frontier Program Partner. The company currently employs 15 employees and has operations in the United States, Singapore and India. It was recently ranked a top 10 Industrial IoT startup by CDN Magazine.
About Inspirit IoT Inc.
Inspirit IoT's vision is to be the global leader in delivering embedded intelligence at the edge. Inspirit IoT delivers a compelling channel and customer experience in markets where performance, power and time-to-market are a mission or regulatory imperative. For more information, please visit http://www.inspirit-iot.com.
About Plug and Play Tech Center
Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, our programs have expanded worldwide to include a presence in over 20 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 10,000 startups and 280 official corporate partners, we have created the ultimate startup ecosystem in many industries. We provide active investments with 200 leading Silicon Valley VCs and host more than 700 networking events per year. Companies in our community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club and PayPal. For more information, visit http://www.plugandplaytechcenter.com.