Cloudastructure acquires LPR provider to extend computer vision portfolio
Cloud surveillance specialist Cloudastructure adds to its biometrics and computer vision capabilities by acquiring Visionful, bringing license plate recognition (LPR) and video analytics to its platform as it sets its sights on smart cities.
The sale is expected to be finalized by the end of January 2022 and follows funding rounds including an almost US$30 million crowd-sourcing campaign in summer 2021, which was later revised upwards, and $22 million in exercisable warrants.
Visionful provides ‘smart parking’ as a product. With clients such as municipalities, hospitals, airports and universities, it creates real-time dashboards based on license plate recognition for vehicles in the clients’ grounds alongside database mapping. This can inform arriving drivers of parking availability and where to head to find an available spot.
The need to keep driving around to find a place is reduced which is saves time and further pollution as well as parking abandonment rates. The overall video analytics can then determine how long a car is parked which can determine billing.
All this data combined can help with longer-term planning for a facility.
By connecting to other databases, the system can detect the vehicles associated with bad actors and alert security personnel. Miami-based Cloudastructure hopes this particular feature will give it a lead over other cloud surveillance providers. It has been adding face analytics such as age, gender and face masks as well as facial recognition to its capabilities.
“This acquisition enhances our award-winning AI-based security platform for our customers, and is a major step in developing our vision for a ground-breaking, comprehensive smart cities platform,” comments Cloudastructure CEO Rick Bentley.