lsrael video analytics firm gets Kuang-Chi investment
The investment in Agent Video Intelligence is part of Kuang-Chi’s $300 million fund, launched in May
Shoshanna Solomon was The Times of Israel's Startups and Business reporter
Kuang-Chi Science Ltd., a member of the Kuang-Chi Group, has agreed to become a strategic investor in Agent Video Intelligence (Agent Vi), an Israeli video analytics company, the Shenzhen, China-based company said.
The investment is part of Kuang-Chi’s $300 million Global Community of Innovation (GCI) fund, which it launched earlier this year. It will expand the Chinese company’s portfolio of technologies that enable safe, smart cities.
Kuang-Chi is investing alongside Motorola Solutions, which first invested in Agent Vi in 2012, Kuang-Chi said in a statement. The total amount invested is around $7 million, the investors said.
According to IHS Technology, a research firm, Agent Vi, which was founded in 2003, is a market leader in video analytics software. Its patented technology allows to create real-time video analysis and video searches that can help monitor cities, infrastructure, transport and stores. The company’s sensors automatically analyze, detect and search massive volumes of video through its cloud interface.
Agent Vi expects to use the invested funds to increase its engineering, sales and management teams and open offices to serve a growing number of clients based in China, Southeast Asia and Europe, the statement said.
Earlier this month the Chinese investor led a multi-million dollar investment in the Tel Aviv-based Beyond Verbal and in May injected $20 million into Herzliya’s eyeSight Technologies, a machine vision company.
Kuang-Chi invests in technologically disruptive, early to mid-stage companies in robotics, machine vision, aviation, and related technology sectors.
The stake in Agent Vi “will make an important contribution” to Kuang-Chi’s portfolio of technologies for future cities and projects, said Dr. Ruopeng Liu, chairman of Kuang-Chi. “As a strategic investor along with Motorola Solutions Venture Capital, we will help Agent Vi expand into Future City projects across Asia.”
