Asia continues face biometrics investment trend with Facetech and Hanet fundraises
A pair of biometrics providers in Asia have joined the recent fundraising frenzy, one a software startup and the other an edge facial recognition company.
Facetech Holdings Limited (not to be confused with Facetec) has raised an undisclosed amount of funding from venture capital firms and a startup conglomerate in Hong Kong.
The Hong Kong-based Facetech says it is using AI and neural networks to develop face biometrics for identifying people wearing personal protective equipment or other facial coverings. The company also has plans for a smart city initiative pulling information from individuals, devices and sensors to optimize city systems. The solution will not use facial recognition for general surveillance, according to the announcement, but will include biometric security for secure access to sensitive areas.
Facetech’s technology is expected to reach a market launch in early 2022. The company says it will be an accurate end-to-end solution for use in public access facilities like retail stores, hospitals, schools and entertainment venues.
“Our technology will feature temperature detection capabilities, which allows it to deny entry to individuals running a fever. This ensures a safe environment that prevents the transmission of a contagion,” states Shao Qigang, CEO at Facetech Holdings Limited.
Vietnam biometric camera-maker receives investment
Hanet, a Vietnam-based maker of cameras with built-in biometrics and other AI capabilities, has likewise raised an undisclosed amount in its Series A funding round, led by Hanoi-based tech firm G-Group, VnExpress International reports.
The funding deal positions Hanet to lead the local Vietnamese market and enter international markets, says Hanet CEO Vo Duc Tho. G-Group CEO Phung Anh Tu says the company plans to lend resources beyond funding to the startup to support its expansion.
Hanet’s AI-powered cameras with facial recognition are sold for home security, automated timekeeping in offices, and analytics and loss prevention by retailers. The company says they can also be used for surveillance, and that its face biometrics work even with masked subjects.
The G-Group technology ecosystem now includes 11 companies serving over 30 million customers.