Corsight AI raises $5M to market and develop real-time facial biometrics for range of applications
Corsight AI has raised $5 million in funding to market and continue the development of its real-time facial biometrics platform, according to NoCamels. The funding round was led by Canadian intelligence and security technology-focused fund Awz Ventures.
The company says its facial recognition is capable of identifying people in crowds, while wearing facial coverings or disguises, in poor lighting, at long distances, and from difficult angles.
Corsight AI was launched as a subsidiary of the Cortica Group last year, and recently announced that its facial biometric technology works with masks and can be used in healthcare applications.
Customers of Corsight’s facial recognition technology so far include Cartica AI, which has secured investments from BMW and Toyota both of which Cortica has collaborated on an automotive visual platform with, as well as baggage security company Seetrue, and fintech Fintica.
The company suggests the technology for detecting people violating quarantine orders and building access control, in addition to identifying healthcare workers wearing personal protective equipment. If someone within an organization is discovered to be infected, Corsight’s system can generate a report of all people who may have come into contact with the person, which could prevent the entire department from being shut down.
“Cortica is pleased to launch its new subsidiary – Corsight AI,” says Corsight AI Chairman and Cortica Founder Igal Raichelgauz. “As a world leader in visual recognition and search, Cortica focuses on verticals that have real needs and highly competitive markets. We then proceed to develop pertinent solutions that leverage our substantial technological advantages in terms of accuracy, cost, and scalability.”
The company currently employs 15 people in Israel and the U.S. Cortica has offices in Tel Aviv, Geneva, New York and Haifa, and has raised more than $70 million.
Current deployments of Cosight’s technology include European airports and hospitals, smart city systems in Asia, police departments and border crossings in South America, and mines and banks in Africa, the company says.
“Corsight AI’s unique solutions allow law enforcement agencies, government bodies, and civilian organizations to contend with safety and security threats, including those posed by the global COVID-19 pandemic. Together with Corsight’s talented and experienced management and team, we believe that the company will contribute greatly to enhancing worldwide safety,” said Yaron Ashkenazi, managing partner and founder of Awz Ventures.
Managers and advisors for Awz include former senior executives with security agencies in Canada and Israel, and former Canadian Prime Minister Stephen Harper is the advisory committee president.