AI startup Vion Technology receives USD 20M for Series B
Founded in: 2005
Financing status: RMB 132 million (USD 20 million) for Series B financing in 2017
AI startup, Vion Technology, received USD 20 million for Series B on December 8 to facilitate its deep learning technology in more areas.
Vion Technology is an AI (Artificial Intelligence) startup that specializes in the research and development of core algorithms and products of artificial intelligence. So far, the company has developed a series of core algorithms for image recognition, high performance AI hardware platforms, and industry-customized intelligent solutions independently.
According to the company, Its core businesses are divided into three major areas: intelligent transportation, intelligent passenger flow and intelligent security. Its technology is integrated into real-time video, accurate positioning, tracking, judgement, capture, identification, and action recording, as well as in city roads, gas stations, parking lots, toll stations, and other areas.
Vion Technology was founded in 2005 in Beijing, and mainly provides related industries with AI services and product solutions. It focuses on smart cities and AI in business cases. In 2012, the company started the large-scale application of an on-board bus lane enforcement system. In 2013, it successfully developed the world’s smallest people counting camera which integrates image recognition and people counting, supports WiFi and POE, and which has been popularized in Beijing.
In 2014, Vion developed China’s first face recognition system based on age, gender, and other facial attributes. This year, it launched the world’s first multi-function electronic police smart camera that integrates 4K picture support.
Vion Technology’s services cover Beijing, Shanghai, Sichuan, Guangdong, other cities. It has formed partnerships with several real estate enterprises, including China Resources Group, Sincere, FutureLand, Macalline, and others.
This new financing round was from a group of investors, including Tsing Capital, Tsing Ventures, Samsung, ABB Group. The capital will be used to recruit more professional talent in AI, further strengthen its research and development of algorithms and hardware, as well as expand its AI solutions for related cases.
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