US-based 3D photography technology developer Fyusion closed a $22m series B round on Monday featuring mobile network operator NTT Docomo, game developer Colopl and smartphone maker Gionee.
2020, a technology investment fund backed by contract manufacturer Foxconn, also took part in the round alongside New Enterprise Associates (NEA), Presence Capital and undisclosed angel investors. NTT Docomo invested through corporate venturing unit NTT Docomo Ventures.
Fyusion develops mobile 3D photography apps that allow users to take and share 3D interactive pictures. Its technology uses artificial intelligence (AI) and machine learning to create the images.
The company will use the funding to drive growth in three areas: automotive imaging, an e-commerce imaging product and the use of its technology in the development of augmented reality platforms.
The round increased Fyusion’s total funding to $38m since it was founded in 2014, including $13m in a 2015 round co-led by NEA and University of Tokyo Edge Capital (UTEC). It had previously brought in $3.35m from UTEC, NEA and assorted angel investors in 2014.
Radu Rusu, Fyusion’s CEO, said: “We are delighted to have welcomed investors with such knowledge and connections in the very areas that Fyusion is focused on. These are incredible partners who understand how Fyusion’s 3D AI imaging will drive growth in many key global industries over the coming years.”