Computer vision startup Tunicorn Technology receives USD 38M for Series A
Founder: Wei Jingjing
Founded in: 2014
Financing status: RMB 250 million (USD 38 million) for Series-A financing in 2017
Computer vision startup Tunicorn Technology received USD 38 million for Series A on December 13. The newly raised capital will be allocated towards recruiting additional talents in the AI (Artificial Intelligence) domain.
Tunicorn Technology is a computer vision startup that focuses on the research, development, and application of AI and computer vision-related technologies. With technologies based on computer vision and deep learning technology, the startup’s core services cover image/video search, vision recognition, face recognition, motion tracking, machine vision, and so on. The company aims to provide enterprise customers with computer vision-oriented products and services, mainly targeted at security monitoring, media advertising, Internet security, Internet applications, television, industrial machine vision, big data, and additional fields.
Founded in 2014 in Shanghai, Tunicorn Technology now has a team of over 100 employees. According to CEO Wei Jingjing, the application of AI is a B2B2C (Business to Business to Customer) process. Thus, Tunicorn Technology targets business customers and supports them with AI-oriented computer vision products and services, and assists them in dealing with specific customer demands. Though Tunicorn currently focuses on security cases, the startup plans to enter the manufacturing and smart city industries and apply its computer vision technology across urban areas.
This new financing round was led by Cowin Capital and Tianjin Hongwei Shangcheng Management Consulting Co Ltd. The capital will be used in three aspects: Firstly, Tunicorn Technology will vastly expand the commercial application of its industrial machine vision technology; Second, it hopes to expand products and services in the realm of new retail, financial, education, and medical cases; Lastly, it aims to recruit more talents for enhancing its AI technology.
(Top photo from Baidu Images.)