BrainChip partners with Magik Eye to market ‘breakthrough’ 3D vision solution

via Small Caps

Artificial intelligence (AI) technology company BrainChip Holdings (ASX: BRN) is teaming up with 3D sensor developer Magik Eye Inc to market a “breakthrough” 3D vision solution using BrainChip’s Akida neuromorphic processor.

BrainChip said the pair intend to jointly provide a “total 3D vision solution” for fast 3D object detection and recognition in applications including robotics, automotive (driver assistance systems and autonomous vehicles, for example) and emerging consumer products such as smart home applications and gaming products featuring augmented or virtual reality.

Together with BrainChip’s Akida processor, the deal will harness Magik Eye’s Invertible Light technology, which is said to provide the “smallest, fastest and most power-efficient” 3D depth sensing by combining a standard image censor and regular dot projector with a proprietary and patented technique to produce 3D point cloud data.

According to BrainChip, the Magik Eye technology addresses the need for devices to see clearly and understand the surrounding environment – a critical aspect of 3D vision applications – while the Akida neuromorphic processor uses AI to gather insights from the 3D data.

BrainChip chief executive officer Louis DiNardo said the new partnership opens a new and exciting gateway for the company in Japan.

“The innovation brought to the market by [Magik Eye’s] proprietary Invertible Light technology is impressive, and this collaboration provides both companies an opportunity to address large and growing markets with outstanding technology to solve difficult real-world challenges,” he said.

Magik Eye founder and chief executive officer Takeo Miyazawa said combining the strengths of the companies’ technologies will create “game-changing benefits” for customers in terms of a total 3D vision solution for robotics, machine vision and many other new applications.

The partnership agreement is for one year and can be extended by mutual consent of the parties.

The deal will start with joint marketing services to promote compatibility that could lead to customers for each company, BrainChip stated.

Financing facility

Today’s announcement follows the news earlier this month that BrainChip has entered into a put option agreement with US-based investment group LDA Capital for up to $29 million in committed equity capital over the next 12 months.

BrainChip said the facility is intended to support the commercialisation of its ground-breaking Akida technology.

The company also recently announced a joint development agreement with European automotive supplier Valeo Corporation.