ThinCI, which is developing machine learning technologies using deep learning and vision processing, has announced that it has raised a round of funding. While the funding amount has not been disclosed, the company has revealed the name of the investors.
The funding round was led by global automotive supplier DENSO International America, Inc., and also saw the participation of Magna International Inc., and a few other individual investors.
With the funding raised in the current round, the company will be able to accelerate the final development of its innovative silicon and software technology. It will improve electronics for enabling driver assistance and autonomous driving, for improving the efficiency of thermal systems, and for optimizing the productivity of the powertrain.
As per the company, the technology will find ready application in a wide variety of everyday products. These include personal electronics as well as products that will enable smarter homes, offices, commercial places of business, industrial concerns, and even the infrastructure of the modern world.
Commenting on this funding round, Dinakar Munagala, CEO of the company, said,
We are thrilled that DENSO, Magna, and other investors have contributed to the next round of financing for THINCI. This new investment is the first to include major institutional investors. It signals a vote of confidence in THINCI’s trailblazing solution that our angel investors first saw in their initial venture backing. It also confirms our belief that the innovation we’ve developed can reinvent the wide range of products that surround us everyday, creating devices that are uniquely different from what already exists and spawning entirely new markets.
Tony Cannestra, DENSO International America’s Director of Corporate Ventures, said,
DENSO is excited to become an investor of ThinCI, and we look forward to supporting ThinCI’s technology development, including working with both ThinCI and our OEM customers to deploy the technology into the industry.
ThinCI is a deep-learning vision processing start-up based in El Dorado Hills, California with teams present in California and Hyderabad, India. The company’s team has experience in massively parallel processing architectures and the software structures to execute on these computing engines.
The company is currently in the final phase of producing its deep learning and vision processing solution comprising silicon and software that can be integrated into a wide range of applications — Including advanced driver assistance systems in automotive industry, intelligent agents for personal electronics that enhances photos and video, etc.
