China-based smart vision product developer Vion Technology has closed a $20m series B round featuring electronics manufacturer Samsung and engineering conglomerate ABB, China Money Network has reported.
Venture capital firm Tsing Capital and investment firm Waterwood also contributed to the round, which came after an undisclosed amount in series A funding from Fortune Capital and Beijing Semiconductor Design and Testing Investment Center in 2015.
Vion Technology was founded in 2005 and produces artificial intelligence-powered machine vision technology for smart cities and businesses.
The company has developed products for traffic monitoring, security and people counting including a video analysis tool capable of face and age recognition and drones that can locate and track vehicles.
The company’s systems are used in Chinese cities including Beijing, Tianjin and Shanghai, and provinces such as Henan, Guizhou and Guangdong. It plans to use the funding to expand its team and invest in product development.