Clobotics, a China-based computer vision technology provider backed by IT and content delivery services firm Wangsu, has secured $22m in pre-series B funding.
The round was co-led by investment firm CMC Capital and CDIB Capital, a subsidiary of holding group China Development Financial, and it also featured venture capital firm GGV Capital and private equity firm Capital Development Investment Fund.
Founded in 2016, Clobotics mainly serves clients from the retail and wind power industries, supplying systems that provide smart functionality through the use of computer vision, artificial intelligence, robotics and data analytics.
The company’s products include an unmanned aerial vehicle for the inspection of wind turbines, as well as retail analytics software that employs image recognition to help generate sales information and forecasts.
The round increased Clobotics’ funding total to at least $48m. It will put the series B capital toward enhancing its products and services and supporting international growth activities, particularly in the US and Europe.
Wangsu and investment firm Nantian Infotech VC invested $11m to close Clobotics’ series A round at $21m in August 2018, adding to $10m previously supplied by investors including KTB Network, GGV Capital and Capital Development Investment Fund.
The latter three investors had backed Clobotics’ $5m series A-plus round in January the same year, after GGV Capital led a series A round of undisclosed size seven months earlier.