Video analytics solutions developer Agent Video Intelligence Ltd. (Agent Vi) has raised $4 million from Motorola Solutions Venture Capital, the investment arm of Motorola Solutions Inc. (NYSE: MSI) and Israeli fund Indigo Strategic Partners. The company will use the proceeds to expand its develop its next-generation product, expand its global sales operations, and set up sales offices in North America.
Agent Vi’s video analytics solutions automatically analyze, alert, and search for events in video surveillance networks, reducing the labor cost of monitoring surveillance networks, while improving the systems' security and safety levels. The solutions also offer video analysis of customer traffic trends for the retail sector and mass-traffic markets.
Agent Vi CEO Itsik Kattan said, “This investment by Motorola Solutions, Indigo Strategic Partners and our existing shareholders is a clear vote of confidence in Agent Vi’s strategy and vision, which continue to lead the company towards remarkable commercial and technological achievements. Despite the challenging economic climate, we see strong and growing demand for video analytics, and we plan to further expand our global operations through this financing round to properly support that demand."
The investment in Agent Vi is Motorola Solutions' first investment outside the US since Motorola Inc. was split into two companies in 2011, and marks the company's renewed investment activity in Israel.
Motorola Solutions Venture Capital managing director Boaz Or-Shraga said, “We always have been interested in the high-tech sector in Israel, as it has produced strong strategic and financial results for us during the last several years. Specifically, we are excited about this investment with Agent Vi as there is substantial growth in the amount of surveillance video that is being created each year. We see the company’s products as valuable assets for customers in the public safety and government sectors allowing them to quickly and effectively detect moments that matter in the surveillance video."
Published by Globes [online], Israel business news - www.globes-online.com - on September 11, 2012
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