AnyVision, a leading computer vision company specializing in face, body, and object-recognition, announced Tuesday it has raised an additional $31 million, completing a $74 Million Series A funding round.
The investors in its latest round include Microsoft’s venture fund M12, DFJ Growth, and OG Technology partners.
The company’s first round of funding, at $28 million, came in June 2018 and was led by Bosch, the German multinational engineering and tech group, which also acquired a nine percent stake in the company.
The second round of funding helped raise an additional $15 million in January 2019, with investments from Lightspeed Venture Partners and Qualcomm Ventures, the investment arm of American multinational semiconductor and telecommunications equipment firm Qualcomm. The chip giant made its first investment in the Israeli startup as part of a new AI Fund. The fund was set to invest up to $100 million in artificial intelligence startups.
Founded in 2014 by Eylon Etshtein, now CEO, and Prof. Neil Robertson, now CTO, the Tel Aviv-based company focuses on creating software solutions that “make all cameras smart,” the company says.
The company also mitigates privacy concerns and data spread through the use of AI on digital cameras and other devices. Former Mossad chief Tamir Pardo sits on AnyVision’s advisory board.
“There are very few times in business when you have the opportunity to build an entirely new industry alongside leading ecosystem players,” said Etshtein in the statement announcing the $31 million funding and closing of the Series A round. “We are fortunate to have the backing of chipmakers like Qualcomm, camera manufacturers such as Bosch, and now cloud service providers like Microsoft through M12’s investment. We have the optimal combination of industrial validation and financial horsepower to become the leader in this industry.”
AnyVision has over 240 employees worldwide, with offices in Tel Aviv, New York, Mexico, London, and Singapore, and a dedicated team of over 30 PhDs in Belfast focused solely on computer vision research. Additionally, over 100,000 cameras are currently empowered by AnyVision AI.