SINGAPORE-BASED video-analytics firm Graymatics has secured an equity investment from smart-city platform-provider Quantela, in a move which could win for the startup access to more global projects in the smart-city space through its investor.
The startup, which analyses videos in real time to provide insights on matters like security and ad placement, declined to disclose the investment amount.
Quantela takes a minority stake with this "strategic" deal, which could help it strengthen its capabilities in video analytics for its own artificial intelligence (AI) driven platform, it said. Amr Salem, the company's chief executive, said the investment in Graymatics will give Quantela a "competitive edge".
By tapping into Graymatic's technology, Quantela can offer capabilities in improving public safety by tracking suspicious behaviour and abandoned objects; it can also improve traffic flow and crowd management, and help detect traffic violations through number-plate recognition, he added.
Abhijit Shanbhag, president and chief executive of Graymatics, said: "The utility for video analytics goes beyond security and can easily transcend into a powerful tool that can help us run our lives and cities more efficiently."
Graymatics also provides its video-analytics solutions to smart cities, especially in eastern India. It also deploys its solutions in buildings, highways, ports, telecom carriers and airports in countries such as Singapore, Indonesia and China.
Quantela provides a platform that helps cities and companies digitise, and has deployed its solutions at 100 smart city projects worldwide. Target markets include education campuses, public spaces and commercial establishments. Its AI platforms can help reduce energy consumption and carbon dioxide emissions, improve traffic flow, water and air quality, as well as optimise processes like waste collection, the company added.
Mr Shanbhag added: "Graymatics is excited to journey with Quantela as we create synergies between our offerings, creating definitive industry-leading solutions for the smart cities space and beyond."