San Diego-based Kneron, a provider of artificial intelligence technology for smart cameras and other gear on the network edge, has landed $48 million in a second round of venture capital funding, despite the increasingly volatile environment for young companies seeking to raise money.
Founded in 2015, Kneron provides AI processors for electronics deployed in the field. That includes everything from smart cameras to smart home sensors to smart city infrastructure to motor vehicle safety systems.
The company employs about 40 people in San Diego and 100 in Taiwan and China. Kneron’s technology is reconfigurable, with a focus on providing low latency, secure and affordable artificial intelligence processing to devices deployed outside of data centers.
This latest funding round was led by Horizons Ventures. It was joined by new backers Liteon, an opto-electronics storage firm; and ADATA Technology, a memory provider. High net worth investors associated with a Taiwanese financial institution also participated.
“We are excited to work our new strategic investors in the advancement of core smart city infrastructures,” said Albert Liu, founder and chief executive, in a statement. “Edge AI is key to enabling a whole array of devices, from edge servers to smart cameras, which will truly accelerate a proliferation of AI applications.”
Over the past year, Kneron said it has added new customers, including Hanwha, a global maker of smart cameras. The two companies teamed up to…
