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V FUND Portfolio | C Squared Visions, An Industrial Solution Provider of Machine Vision, Closed a $

Author: 2021.06.28 Pv( 96)

Recently, C Squared Visions, an industrial solution provider of machine vision, announced the completion of a ten-million-dollar Series A funding led by V-Fund. The money will be mainly used for team expansion, business scope expansion and the construction of plants.

C Squared Visions began operation in June, 2018. The company provides industrial solutions of machine vision and industrial software for manufacturers. It also produces a collection of smart equipment ready for production, optical system design and services including vision processing, data collection, etc. C Squared Visions provides manufacturers with full-stack vision services and enterprise-class solutions.

 

Since its establishment, C Squared Visions has been making continuous efforts to implement advanced visual technology into actual industrial production. Its self-developed Sirius Vision Platform can connect to multiple industrial cameras and deploy multiple customized vision algorithms at the same time. By collecting data from the entire production line’s vision system and production equipments, C Squared Visions will provide manufacturing companies with comprehensive and multi-dimensional production feedback, thus helping them improve their production efficiency, reduce production costs and improve their product quality. Zhu Feng, Partner of Yunhui Capital, said: "V-Fund has been focusing on industrial vision inspection. We believe that now is turning point for the technology used in AI algorithms and industrial inspection. Domestic AOI companies represented by C Squared Visions are likely to provide domestic substitutions and even overtake foreign markets. C Squared Visions is strategically positioned as a provider of industrial solutions of machine vision and industrial software for manufacturers. The company has been highly recognized by leading companies in the contact lenses’ and medical consumables’ industry. We are optimistic about the company’s lateral replication ability and data service capability. We will accompany C Squared Visions in the future and firmly believe in their future development." C Squared Visions focuses on defect detection of irregular-form products. Their own brand Insvis focuses on detecting defections in transparent material products from pharmaceutical and medical device fields, such as contact lenses, optical lenses, medical materials, light guide material, glass products, etc.

 

Presently, Insvis products are widely used in top contact lens manufacturers and foundries in Southeast Asian regions, such as China, Taiwan, etc., as well as top medical device manufacturers. Insvis has already achieved lateral replication in multiple production lines. "With the booming of cosmetic contact lenses, contact lenses are becoming more than mere medical devices. Asian contact lens manufacturers have already expanded production on a large scale. The pandemic has made manufacturers more aware of the importance of automation equipments and intelligent equipments. This is a great chance for technology companies like us that provides intelligent inspection solutions." Dr. Cai Zhonglun, CEO of C Squared Visions said, "Our goal is to implement the intelligent inspection system and the intelligent manufacturing system onto the whole production line and combine the inspection system and manufacturing skills, as a method for improving the efficiency and the product’s quality." C Squared Visions’ business has grown nearly three times over the previous year. Compared with the traditional inspection methods, the company’s visual inspection equipments have much higher efficiency. Take contact lenses’ inspection as an example, the current C Squared Visions inspection equipment can complete about 3,000 pieces of lenses per hour. A more advanced equipment can inspect more than 6,000 pieces per hour. Generally, a production line using C Squared Visions’ equipment can reduce the cost of 10 to 20 workers. More importantly, the equipments have a more unified and repeatable standard compared to manual inspection.

 

"All the solutions can be customized. Our solution’s level of standardization is now up to 80% and there is still room for users’ customization." said Cai Zhonglun. After more than 2 years of implementation, the company found that in real-life industrial operation, many manufacturing companies have relatively weak data collecting ability regarding its industrial production data. They also face the problem of incompatible and intermittent data and the intelligence level of the production lines can also be improved. In order to solve this problem, C Squared Visions decided to gradually change the original point-layout intelligent inspection system to a system that covers every process of the production chain by carrying out visual quality control inspection on every section, and then replicating the system to multiple production lines. For example, from detecting flaws at the end of the glasses’ production lines to the detection of each and every process, including printing, casting, parting, cleaning, packaging, etc. "We believe that only with  abundant hardware terminals can we collect enough data to make the most of the software and data, such as using visual technology to present the overall data to customers. With the help of AI and other data analysis methods, we can provide risk analysis and similar feedbacks to the companies as a guide to help them improve their production efficiency. This is also in line with our original envision of forming a centralized data collecting and feedback center." said Cai. “We have been practicing this idea for the past three years." In the future, C Squared Visions will continue to work in pharmaceutical and medical device industries and gradually explore other industries.