SimShine, a computer vision startup based in Shenzhen, has raised $8 million in pre-Series A funding for SimCam, its line of home security cameras that use edge computing to keep data on-device.
The funding was led by Cheetah Mobile, with participation from Skychee, Skyview Fund and Oak Pacific Investment.Earlier this year, SimShine raised $310,095 in a crowdfunding campaign on Kickstarter.
It will use its pre-Series A round for product development and hiring.SimShines team started off developing computer vision and edge computing software, spending five years working with enterprise clients before launching SimCam.The company plans to release more smart home products that use edge computing, with the ultimate goal of building an IoT platform to connect different devices, co-founder and chief marketing officer Joe Pham tells TechCrunch.
SimCam currently integrates with Amazon Alexa and Google Assistant, with support for Apple Homekit in the works.Pham says edge computing protects users privacy by keeping data, including face recognition data, on-device, while also decreasing latency and false alarms, because calculations are performed continuously on the device (cameras connect to Wi-Fi so customers can watch surveillance video on their smartphones).
It also means customers dont have to sign up for the subscription plans that many cloud-based home security cameras require and reduces the price of each device as SimCam does not have to maintain cloud servers.