Locks and Security News: your weekly locks and security industry newsletter
21st February 2018 Issue no. 398
Your industry news - first
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Umbo CV raises $2.8M seed to create smart security cameras that prevent crimes
Umbo CV has raised a $2.8 million seed round for its security cameras, which use artificial intelligence to identify suspicious activity and prevent crimes before they happen. The Taipei- and San Francisco-based startup's funding was led by AppWorks Ventures, with participation from Mesh Ventures, Wistron Corporation, and Phison Electronics.
The two-year-old startup has already shipped its system-including cameras and a cloud-based management platform-to clients in Dubai, the United States, and Europe, and will begin mass manufacturing next month. Co-founder and chief executive officer Shawn Guan says Umbo CV has also received $1.4 million in pre-orders and letters of intent from other customers. Its funding will be used for research and hiring.
30th March 2016