Matrix Leads Series A Round In AI Visual Solution Start-Up PerceptIn

Matrix Partners China has led a series A financing round in PerceptIn, a Silicon Valley-based artificial intelligence start-up developing the "eyes and brains" for robotics and smart devices.

Matrix did not disclose the amount raised in the round, and only said that it is worth tens of millions RMB in an announcement it posted on its Wechat account.

San Francisco-based cross-border venture capital firm Walden International and Silicon Valley-based TEEC Angel Fund also participated in the deal, which values the 11-month-old start-up at RMB200 million (US$28 million) post-money.

"PerceptIn provides smart visual systems for robots, smart vehicles and augmented reality hardware," said Wang Huadong, a partner at Matrix Partners. "The most important step to make electronics 'smart' is to give them eyes, mouths and brains, while PerceptIn is the answer to adding 'eyes...

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