TMCnet News
Aira Raises $12M Series B Financing Led By JAZZ Venture Partners And Arboretum VenturesSAN DIEGO, May 16, 2017 /PRNewswire/ -- Aira, a mission-driven company dedicated to developing smart products and services that enable blind and low vision individuals (BVI) to lead healthier and more independent lives, today announced that it has raised $12 million in a Series B funding round led by JAZZ Venture Partners and Arboretum Ventures. Other participants included existing investors Lux Capital, ARCH Venture Partners and Felicis Ventures. Strategic investors include the National Federation of the Blind. Aira's service, which recently concluded its beta-testing phase, is now available to new users in the United States. The technology solution combines smart glasses, dedicated bandwidth from Aira partner AT&T, and AI-enabled remote human agents to help blind and low vision individuals immediately access key information that they need about their environment. This technology enables greater independence and autonomy by facilitating everyday tasks such as shopping at local retailers, navigating public transportation or reviewing menus or service offerings, which often require a sighted assistant. The remote Aira agents go through extensive professional training and are assisted by an AI-powered dashboard that continuously learns user preferences to best serve the end user. "I am inspired by the passion that this accomplished group of investors has for our mission to further enhance quality of life for the BVI community," said Aira CEO, Suman Kanuganti. "By working together we can remove remaining barriers for BVI individuals to live with greater autonomy and confidence." This latest round of funding builds upon a successful Series A round in 2016 that facilitated critical technology development, including establishing a 200-person "explorer class" of customers. The Series B funing will enable Aira to expand its service offerings to serve a greater number of BVI individuals. There are an estimated 20 million blind and low-vision people in the United States (according to the American Foundation for the Blind) and this number is expected to rise as the baby-boomer population ages. The World Health Organization estimates that there are more than 285 million BVI individuals worldwide. Aira also announced today that it has expanded its advisory board to include support and input from Mark Riccobono, President of the National Federation of the Blind. He will work alongside a group of distinguished BVI individuals, including Erik Weihenmayer, the only blind individual to summit Mount Everest; Jack Chen, Google attorney; Christine Ha, Master Chef winner; and Michael Hingson, best-selling author and speaker. "We are pleased that we can further fuel the tremendous momentum that Aira has achieved with its ground-breaking resource for the blind and low vision," said John Harris, General Partner, JAZZ Venture Partners. "Aira perfectly exemplifies our investment focus to partner with companies leveraging AI and cognitive science to extend the boundaries of human performance and optimize how we live, learn, work, and experience the world." "We believe that Aira has developed a unique service with tremendous potential to enhance quality of life and independence for members of the BVI community. The impact Aira has had on its users is remarkable and we are proud to be a part of the growth of this company," said Dr. Thomas Shehab, Managing Director of Arboretum Ventures. About Aira About JAZZ Venture Partners About Arboretum Ventures About Lux Capital About ARCH Venture Partners
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/aira-raises-12m-series-b-financing-led-by-jazz-venture-partners-and-arboretum-ventures-300458470.html SOURCE Aira |