Umbo Computer Vision, a US-based home security system developer backed by electronics manufacturer Phison and design services provider Wistron, raised $6.8m of series A capital on Wednesday.
The round was led by CDIB Venture Capital, a venture capital branch of financial holding group China Development Financial, and featured startup accelerator AppWorks Ventures, Mesh Ventures and Substance Capital.
Umbo is creating an artificial intelligence (AI)-equipped home security system called Light that applies computer vision and machine learning to CCTV footage to help clients spot suspicious behavioural events such as loitering or break-ins.
The series A funds will be used to complete development of Light and will support hiring, work on other Umbo products and research and development for the company’s computer vision technology.
Umbo has now raised $9.6m to date, including $2.8m in a March 2016 seed round led by AppWorks that was also backed by Phison, Wistron and Mesh Ventures.
Shawn Guan, Umbo’s chief executive, said: “Umbo’s new investment underscores the great potential of autonomous video security systems that are capable of deep learning and computing.”
“We are well-positioned to contribute and lead the rising trend for AI to bolster traditional surveillance practices in the security industry.”
– Image courtesy of Umbo Computer Vision Inc.