The Israeli startup Viisights has received $10 million in a round of Series-A funding led by Canada’s Awz Ventures. Viisights is a behavioral recognition specialist and the developer of the Viisights Wise solution, which uses AI to analyze video surveillance footage in real time.
Unlike traditional object recognition platforms that can only identify discreet objects, Viisights Wise is able to identify specific movement and behavior patterns that tell a more complete story about an in-progress situation. For example, the platform can spot fights, car accidents, and various suspicious activities, thereby allowing security and emergency personnel to respond to those situations more efficiently.
According to Viisights, the Viisights Wise platform can be leveraged for a range of different smart city and surveillance applications, including crowd management and traffic control. The platform also offers weapon recognition capabilities, and can be deployed in banks, corporate campuses, transportation hubs, and large venues like arenas.
“We view Viisights’ behavioral recognition solution as a unique offering within the video analytics market, which has great commercial potential and will make the world a safer place,” said Awz Ventures Founder and Managing Partner Yaron Ashkenazi.
Viisights notes that since its technology identifies general (and anonymous) behavior patterns rather than specific individuals, it does not violate people’s privacy and can still be utilized in cities like Oakland and San Francisco that have banned facial recognition.
The company will use the Series-A funds to improve its technology and expand its sales force with an eye towards global expansion. Viisight is hoping to capture a portion of the video analytics market that is projected to reach $14.4 billion by 2025, and indicated that it has already secured partnerships with major companies like NEC and Motorola.
Firstime Ventures was one of several companies that contributed to the funding round in addition to Awz Ventures.
November 18, 2019 – by Eric Weiss