Japanese venture capital firm SBI Investment, a subsidiary of Tokyo-listed SBI Holdings Inc, has invested $15 million in a Series D funding round into Gorilla Technology Group, an AI and computer vision solutions provider.
According to a release, this is SBI’s first investment in a Taiwanese, AI-focused company and will give it a minority stake in Gorilla Technology.
“SBI’s investment follows the establishment of SBI AI & Blockchain Fund (SBI A&B Fund) earlier this year. The SBI Group is actively involved in introducing AI solutions to financial institutions in Japan, and strongly believes in the future of this field,” said SBI Investment executive officer Tomoyuki Nii.
Gorilla plans to use the funding to enhance its AI and video analytics algorithms for the fintech space, work towards cementing a worldwide sales and marketing presence and expand its footprint in Japanese markets.
Established in 1999, SBI Investment has invested in 56 companies, including 23 leading investments, according to Crunchbase.
Founded in 2001, Gorilla develops its own AI and video analytic platforms from its research and development facility in Taiwan. It successfully completed Series A, B and C investment rounds in 2007, 2009 and 2015.