Israeli video analytics co Agent Video Intelligence (Agent Vi) has raised $6 million in a financing round led by Chinese tech giant Kuang-Chi and with the participation of previous investor Motorola Solutions. Kuang-Chi's investment in the financing round was $4.3 million.
Founded in 2003 and located in Rosh Ha'ayin is a market leader in video analytics, with thousands of successful deployments worldwide. Agent Vi's patented technology provides sophisticated, customized analytics across safe city, infrastructure, transport, retail and other applications. Operating through hundreds of integrators and resellers, Agent Vi's solutions turn surveillance cameras into intelligent sensors that automatically analyze, detect and search massive volumes of video through its cloud interface.
Agent Vi expects to use the invested funds to expand its engineering, sales and management teams. The company plans to open local offices to serve its growing client base in China, Southeast Asia and Europe.
Agent Vi CEO Itsik Kattan said, "Agent Vi has gained a foothold in China and found an important partner in Kuang-Chi, a company that is creating next generation technologies with broad applications for the future of cities."
Kuang-Chi chairman Dr. Ruopeng Liu said: "I am pleased to announce our investment and partnership with Agent Vi. This stake will make an important contribution to Kuang-Chi's portfolio of Future City offerings and projects. As a strategic investor along with Motorola Solutions Venture Capital, we will help Agent Vi expand into Future City projects across Asia."
Published by Globes [online], Israel business news - www.globes-online.com - on September 15, 2016
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