US-based image-recognition software developer AnyVision completed a $74m series A round yesterday that included software provider Microsoft, mobile chipmaker Qualcomm and industrial technology and appliance manufacturer Robert Bosch.
The round also featured OG Technology Partners, a venture capital vehicle for holding company Ofer Group, as well as investment firm Eldridge Industries and VC firms DFJ Growth and LightSpeed Venture Partners.
Microsoft and Qualcomm participated through their respective corporate venturing subsidiaries, M12 and Qualcomm Ventures.
AnyVision is working on artificial intelligence technology that is added to cameras to enable them to recognise objects, people and faces. It is utilised for functions including mobile authentication, surveillance and security.
Bosch joined two unnamed private equity investors to supply the round’s $28m first tranche in July 2018, before Qualcomm Ventures and Lightspeed Venture Partners provided a further $15m in January.
Eylon Etshtein, co-founder and chief executive of AnyVision, said: “There are very few times in business when you have the opportunity to build an entirely new industry alongside leading ecosystem players.
“We are fortunate to have the backing of chipmakers like Qualcomm, camera manufacturers such as Bosch, and now cloud service providers like Microsoft through M12’s investment. We have the optimal combination of industrial validation and financial horsepower to become the leader in this industry.”
