OWL AI Relocates-Plans Perinton, New York, Facility
The company was a round four finalist of the Luminate NY business competition, won $250,000 in follow-on funding, and recently closed a $15 million Series A financing round.
"Owl's roots are deeply tied to the Greater Rochester Region and to leveraging the rich resources that exist in the imaging capital of the world,” said OWL AI Co-Founder and CEO Charles Gershman. “Our new facility continues our commitment to growing in Monroe County. The support of Luminate NY and Empire State Development has been tremendous in helping Owl AI position itself for the growth that will come from transforming capabilities in the transportation market."
Empire State Development is providing up to $750,000 through the Excelsior Tax Credit Jobs program in exchange for the performance-based job creation commitments over the next five years.
"OWL AI's continued expansion in the Finger Lakes spotlights the success of New York State's strategic investments in advanced technologies, and further establishes Rochester as a global leader in optics, photonics and imaging.,” said Empire State Development President, CEO & Commissioner Hope Knight. “This Luminate NY alum, developing next-gen transportation tech, is a great example of how our business competitions are attracting top-notch companies that are creating jobs and spurring the region's economic growth."
Founded in 2018, Owl AI has developed a sensor modality for autonomous vehicles known as monocular 3D Thermal Ranging that dramatically improves pedestrian safety to reduce accidents and save lives. Current Automotive Driver Assist System sensors typically consist of mutually dependent visible-light cameras and radar. When one of these sensors becomes ineffective, so too does the entire sensor suite.
"Owl AI is expanding in the Greater Rochester, NY region to leverage the world-class optics, photonics, and imaging talent and expertise readily available here,” added Matt Hurlbutt, President and CEO, Greater Rochester Enterprise. “We are pleased to connect Owl AI to numerous essential resources available in Rochester to fuel the company's expansion plans."
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