FST21 raises $5M to increase US distribution

August 28, 2013 - 

FST21 America has raised $5 million for its facial and voice recognition surveillance system.

Reported in the Washington Post, the company was founded by the former head of the Israeli Military Intelligence Directorate, and the $5 million fund was led by L.V. Holdings, an early stage seed fund based in Israel.

Also, according to a report in Pando Daily, the company plans to use the new capital to increase its U.S. distribution.

The company’s surveillance system — called SafeRise — detects people in motion, and uses a combination of behavioral biometrics, as well as voice and facial recognition to facilitate access control for commercial or residential deployments.

Earlier this year, the company announced a partnership with SAFE for a car security system, called SAFE Car, which leverages the company’s facial and voice recognition technology.

Based on a recently-published research report, the global facial recognition market is estimated to grow from $1.92 billion in 2013 to $6.5 billion in 2018, at an impressive CAGR of 27.7%.

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About Adam Vrankulj

Adam Vrankulj is an editor for BiometricUpdate.com. His background consists of online news writing, editing and content marketing. Adam has written for CBCNews.ca, BlogTO and was the editor and curator for the nextMEDIA and CIX Source publications. He has a degree in journalism and is passionate about science, technology and social innovation. Contact Adam, or follow him at @adamvrankulj