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.