The video analytics market (or “intelligent video” market) is larger than you might believe. It’s expected to grow from $2.77 billion to an enormous $8.55 billion by 2023, driven largely by growing corporate interest in IoT-centric (internet of things) cloud reporting, incident detection, traffic monitoring, and other such use cases.
With that sort of cash in play, it’s not surprising investors are enthusiastically backing some of the sector’s best-positioned startups. A prime example is Gorilla Technology. The 18-year-old privately held Taipei company, which provides computer vision solutions for enterprises, today revealed that it has secured $15 million in Series D financing from Japanese financial services company SBI Group. It’s Gorilla’s first round since January 2015, and it marks SBI’s first major investment in a Taiwanese company.
Previous raises were led by Acer and Telstra, the latter of which took a stake in Gorilla through its investment arm, Telstra Ventures.
“Financial companies worldwide have started tapping on the video analytics and facial recognition door as cybersecurity threats continue to grow and expand in 2019.” said Dr. Spincer Koh, CEO of Gorilla Technology. “SBI Group’s investment into our company and vision strengthens our position as an Edge AI leader. It’s a key driver toward our goals in video analytics technology and keeps Gorilla positioned at the forefront of video AI technology.”
Put simply, Gorilla’s range of machine learning and deep image analysis algorithms identify, analyze, and extract data from digital content — whether that content is live, recorded, or captured frame by frame. It offers solutions across four domains — retail, enterprise, security, and media — and claims to manage over 40 petabytes of content across five continents in multiple languages.
Gorilla’s Ivar real-time surveillance platform, which works with existing security systems and multiple cameras, can search and track people, vehicles, and objects and detect “suspicious” events. Its Smart Enterprise product keeps tabs on employee clock-in/out hours and absences, facilitates video conferencing, and provides a portal for organizational training videos. Smart Retail incorporates data from cameras and IoT devices to track metrics like top performing products, shopper behavior and demographics, store revenue, product conversion rates, and more in a unified dashboard. And Smart Media provides an end-to-end solution for media archiving and asset management, principally for broadcasters and production houses.
Gorilla says it’s certified as the first IVA-based security software partner integrated with Intel’s OpenVINO in IoT Solutions Alliance, which it says enables its at-the-edge products to conduct one and a half times greater real-time video feed analytics, without the need for dedicated GPUs. And it has partnered with vendors like Dell, EMC, and ViewSonic to integrate VeMo, its real-time video analytics technology, into their IoT equipment. Just this fall, Gigabyte announced a VeMo-powered CCTV offering that leverages machine learning to perform facial recognition, vehicle detection, and behavior tracking across multiple concurrent video streams.
“We are committed to creating new avenues of success and security for the fintech markets, and we strongly believe the next natural step is to expand Edge AI, computer vision, and data as a service,” Koh said. “We can’t wait to see what the future holds.”