Occipital, a US-based computer vision technology developer backed by chipmaker Intel and property developer JF Shea, has raised $15m for the first close of its series C round.
Venture capital firm Foundry Group led the round, investing through its $500m Foundry Group Next fund and increasing the company’s overall equity funding to $35m.
Occipital is developing computer vision systems to power augmented reality, virtual reality and home robotics products.
The company’s upcoming products include a navigational and tracking device called Occipital Tracking that uses simultaneous localisation and mapping technology to capture the outline of real-world objects as a set of 3D geometric cues.
Occipital intends to use the funding to integrate machine learning capabilities into Occipital Tracking so the product can also contextualise encountered objects. Funding will also be used to develop additional products as the company aims to grow its headcount and expand segments such as software engineering.
Intel and JF Shea’s respective corporate venturing units, Intel Capital and Shea Ventures, participated in the company’s last round, a $13m series B closed in 2015 that included Foundry Group and VC firm Grishin Robotics.
Occipital had secured $1.3m from a 2013 crowdfunding campaign that followed a $7m series A round led by Foundry Group and backed by robotics research hub and incubator Willow Garage and VC firm K9 Ventures.
Foundry Group and Grishin Robotics had also provided series B funding, after Occipital secured $1.3m from a 2013 crowdfunding campaign, and $7m in a 2011 series A led by Foundry that included robotics software firm Willow Garage and VC firm K9 Ventures.