Orcam Technologies

 

“We Create Personal Assistive Devices That Change Lives”

Founded: 2010, Jerusalem, Israel

Category: Healthcare/ Medical Devices

Primary office: Jerusalem, Israel

Core technical team:

Jerusalem, Israel

Status: Private

Employees: 150

Amount raised: USD$86.4 million (9 rounds – 2018)

OVERVIEW

  • Provides assistive digital technologies to improve the lives of individuals who are blind, visually impaired, and have reading difficulties.
  • Invests in artificial intelligence by incorporating proprietary algorithm into wearable platforms
  • Developed vision-based advanced driver-assistance systems (ADAS) providing warnings for collision prevention and mitigation and evolved into hearing, reading and visual aids
  • Breakthrough innovations in assistive technology platforms

PERFORMANCE METRICS

  • Valuation: USD$1 billion (2019)
  • Revenue: USD$6 million (2017)

ACHIEVEMENTS

  • OrCam Technologies Launches first-ever Digital AI Assistive Reading Device
  • The World’s Most Awarded Company for Wearable Assistive Technology Devices (2020)
  • TIME Magazine Best inventions (2019)

Sells

  • OrCam MyEye; conveys visual information audibly, in real-time and offline for the blind or visually impaired
  • OrCam MyReader 2; Advanced Artificial Intelligence device for reading any printed or digital text
  • OrCam Read; handheld device with a smart camera that seamlessly reads text from any printed surface or digital screen

Channels

  • Partnership networks across borders to reach wider range of customers
  • Content Creation on social media; YouTube to engage and attract customers
  • Integration of Bluetooth connectivity to increase use across devices

Competencies

  • High level of expertise in AI, Machine learning and cloud computing
  • High Visual and text interpretation is achieved by algorithms and AI models

Distinct AI Features

Type

  • Machine learning, Deep learning

  AI use

  • Through supervised learning, users can record family member’s faces in less than 30 seconds and the device will cycle through its programmed dataset to identify this person the next time he or she comes into view. The product is trained on millions of text, products and languages so it can identify and interpret properly

AI useRate of return on customer’s investment to make AI work

Immediate:

  • It takes time and effort to gain mastery of the device and product is costly

Long term:

  • The device becomes more proficient the more it is being used and appreciates in value over time

Databases

  • Multilingual, Large Text data and Face recognition historic data

Quantum Computing

  • N/A

Resources

Assets

  • Founders; Prof. Amnon Shashua and Mr. Ziv Aviram have professional experience in artificial intelligence and autonomous innovations
  • Proprietary Technology and unique product offerings
  • Partnership with Optometric and Assistive Technology Companies worldwide to provide devices to a wider range of customers
  • Product platform is available in 21 different languages

Processes

  • Continuous research to improve product and technology enhancement
  • Adoption of artificial intelligence to develop assistive technologies
  • 24/7 Automated Chatbots for customer support and feedback
  • Cybersecure platform to mitigate data privacy concerns

Priorities

  • Expand and improve product offering
  • Increase customer base and product awareness