REUTERS: AnyVision, an artificial intelligence-based facial recognition startup, said on Wednesday it had raised US$235 million in a funding round from SoftBank Vision Fund 2 and Eldridge, among others.
The proceeds from the round, which also saw participation from existing investors, will be used to fund growth and adoption of AnyVision’s offerings.
The company has formed strategic partnerships with notable companies including Honeywell, Schneider Electric and Nvidia.
AnyVision’s technology helps transform surveillance cameras into security systems, Chief Executive Officer Avi Golan said. It uses facial recognition to open guarded points for authorized people, its website said.
Golan was previously an operating partner at SoftBank Vision Fund, a position he left last year to lead AnyVision. He has held other key roles at Google and Intuit, among others.
“The visual recognition market is nascent but has large potential in the Western world…we believe AnyVision is uniquely placed to redefine physical environment analytics across numerous industries,” said Anthony Doeh, partner for SoftBank Investment Advisers.
Amit Lubovsky, a director at SoftBank Investment Advisers, will take a seat on Israel-based AnyVision’s board as part of the transaction.
(Reporting by Sohini Podder in Bengaluru; Editing by Shinjini Ganguli)