FST21 raises $5M to increase US distribution
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%.