Watrix raises $14M, releases gait recognition solution
Chinese computer vision startup Watrix AI has raised 100 million yuan ($14 million USD) in its pre-A round of fundraising to accelerate the application of gait recognition technology, China Daily reports. This round was led by Shenzhen Hang Bong Investment and Development Co Ltd and Hua He Capital.
According to founder and CEO of Watrix AI, Huang Yongzhen, the investment will primarily be used for research and development, marketing and attracting new talent. “We will spare no effort to explore more advanced technologies to step up the application of gait recognition technology. We aim to gain a lead in industrial visual sector.”
Watrix AI was founded in 2016 and incubated by the Institute of Automation of Chinese Academy of Sciences. The startup provides solutions for the security, transportation and manufacturing sectors.
Last week Watrix unveiled its gait recognition solution “Shuidi Shenjian” which will enable security departments to quickly search and recognize identities by their body shape and walking posture. The company notes that this product is highly effective when targets walk from a long distance or in weak light, cover their faces or wear different clothes, and would be a great supplement to current computer vision products.
“The product will greatly improve efficiency in security-related areas including police, customs and ports as it is able to scan a one-hour video and identify objects within 10 minutes, with the accuracy rate reaching 94 percent,” said Yongzhen. According to the announcement, the system has been tested by public security officials for more than 1,000 hours and has been involved in the detection of more than 20 cases.
Huang disclosed that the company has already obtained intent orders totaling more than $19 million USD.
“The technology has been commercialized in an array of fields including safety and security, as well as transportation,” added Zhou Shuhua, founding partner of Hua He Capital. “It is a promising market that is able to nurture companies valued at some 10 billion yuan or even 100 billion yuan.”