US-based machine vision software developer Alitheon has completed a $14.9m funding round featuring BMW I Ventures, the corporate venturing arm of car manufacturer BMW.
BMW was joined by venture capital firms Shasta Ventures and IPD Capital in addition to undisclosed private investors. It raised the first $11.6m of the round in November 2019 and added $3.3m this month according to GeekWire, which described the deal as a seed round.
Founded in 2015, Alitheon has created a computer vision-driven platform called FeaturePrint that is used to automatically classify aspects of goods in the supply chain to ascertain factors such as authenticity or signs of wear and tear.
The funding will help expand the company’s offering into sectors including the automotive, defence, aviation, semiconductor, pharmaceutical, additive manufacturing and luxury goods industries as well as and government. It had secured $2.8m in equity funding in 2017 and another $5.6m in late 2018, according to regulatory filings.