11 May, 2021: In a new development, Mumbai Angels Network, a premium startup investment platform for early-stage venture investments, along with CIIE-IIMA and a group of eminent angel investors, has invested in intelligent video analytics startup Pixuate by Cocoslabs Innovative Solutions Pvt. Ltd. While the investment amount remains undisclosed as of now, Pixuate has also recently received debt funding support from the Technology Development Board (TDB), a nodal agency of the Govt. of India.
A brainchild of technology enthusiast Prathvi Palekar, Pixuate uses proprietary algorithms in AI, Deep Learning, and Computer Vision to deliver real-time and actionable insights from high-volume video and image data. Pixuate offers a wide range of capabilities for security intelligence, compliance audits, and automation, which includes analytics for people (such as facial recognition and thermal scanning), vehicle analytics (like ANPR, vehicle classification, and violation detection), and object recognition (including safety gear check and object detection). Powered by world-class analytics capabilities, the platform provides a complete suite of deep-tech enterprise solutions for a safer today and a smarter tomorrow. Having delivered AI solutions to marquee clients such as L&T, Unilever, ITC, Bigbasket, along with several clients in the UAE, Pixuate now offers video analytics solutions specifically designed for industries such as Pharma, Logistics, Oil & Gas, and Food & Hospitality. Besides this, the platform’s video analytics capabilities are also applicable for smart cities and highway traffic management. With Pixuate having an exciting line-up of new product features in the pipeline, this freshly infused funding will largely be invested in R&D for accelerated product development and feature engineering. The company also plans to fast-track its growth through market expansion and adding more industry use cases and applications. |
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