SparkCognition closes USD 123 million Series D funding, acquires virtual AI firm Integration Wizards | Indiablooms - First Portal on Digital News Management
Summary
Bangalore/IBNS: SparkCognition, an artificial intelligence (AI) software solutions provider for businesses, has signed a definitive agreement to acquire Integration Wizards, a visual AI enterprise, to include computer vision capabilities as part of its industry solution offering. Integration Wizards technology would leverage new and diverse data sets, including CCTV feeds, drone footage, video from handheld devices, and existing camera infrastructures to address critical problems such as security, visual inspection, productivity, and situational awareness in a shorter span of time, an official company release said. Founder and CEO of SparkCognition Amir Husain said, “With advanced visual AI that can recognize complex scenes and activities, we further amplify the value we deliver to our customers while leveraging existing infrastructure investments." Since Integration Wizards’ launch in 2014, the visual AI technology company has provided solutions to major organizations like Hindustan Petroleum Corporation Ltd, Reliance Industries Ltd, Heineken, Xerox, Novo Nordisk, and Johnson Controls. Additionally, SparkCognition also announced the closing of its $123 million Series D fundraising round at a unicorn valuation of over $1.4 billion in the beginning of this year.
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