China-based computer vision hardware developer NextVPU has secured RMB200m ($28.7m) in series A funding from Cethik, a safety products subsidiary of electronics manufacturer China Electronics Technology Group, DealStreetAsia has reported.
Founded in 2016, NextVPU develops computer vision and artificial intelligence (AI) hardware used in various smart devices and unmanned vehicles. Its products include computer vision processing chip N171 and AngelEye, a smart glasses device that converts visual data into audio for blind people.
The series A capital will be used to drive NextVPU’s research and development and expand its workforce as it pursues its growth strategy. The company had reportedly received an undisclosed amount of funding from venture capital firm Frees Fund in 2016.