AUSTIN, Texas — Eagle Eye Networks, a global provider of Cloud-based video surveillance products and solutions, announces the acquisition of Uncanny Vision, an artificial intelligence (AI)-based computer vision company headquartered in Bangalore, India.
Terms of the transaction were not disclosed.
Founded in 2013, Uncanny Vision develops next generation intelligent surveillance solutions for smart cities, smart buildings and infrastructure specifically for people and vehicle monitoring using security cameras. Eagle Eye Networks CEO Dean Drako tells SSI after evaluating more than a dozen AI companies, he and the Eagle Eye team began working with Uncanny Vision in 2020.
Unlike other AI providers, Uncanny Vision has been focused on “AI for video surveillance since day one,” Drako says.
Uncanny Vision surveillance is said to enable cameras to “see” and “understand” their environment instantly, using optimized real-time AI/deep learning algorithms. The company’s AI technology is deployed across thousands of locations, including Fortune 500 customers, Drako says.
The deal is said to accelerate Eagle Eye’s strategic global growth initiatives, announced in October, when the company raised funds from venture capital firm Accel to dramatically reshape video surveillance.
“This is very good news for our systems integrator partners. The addition of Uncanny Vision’s AI and analytics to the Eagle Eye platform means that they will be able to offer new features and bring more value to their customers,” Drako says. “It’s a good way to increase customer retention. At the same time systems integrators can increase their RMR and build the value of their business.”
Uncanny Vision’s deep learning algorithms are said to enable recognition, identification and prediction, improving business operations, customer service and site safety. The company’s AI is used in multiple applications, including:
- Smart parking
- Retail analytics
- Gate security
- Toll automation
- Smart cities
- ATM monitoring
- Worker safety
- Perimeter security
Drako says the company’s portfolio comprises four AI-enabled offerings, with an automatic number plate recognition (ANPR) product being its core product. Titled Uncanny ANPR, the end-to-end solution is said to consistently deliver very high accuracy even in challenging conditions with fast moving vehicles, different fonts, dirty number plates and difficult camera angles.
Eagle Eye benchmarked Uncanny Vision’s LPR technology against dozens of other providers, and “they were the best,” Drako says.
All 60 Uncanny Vision employees will be retained, and Eagle Eye plans to expand the Bangalore office. Eagle Eye is committed to supporting Uncanny Vision’s current customers, and will continue to build its global infrastructure to provide 24/7 support to its valued customers around the world, according to Drako.
“By adding Uncanny Vision’s technology and talent to our team, we’ll be able to more rapidly scale our AI offering to improve safety, security, and customer service, and bring actionable insights to our growing customer base around the world,” he says.
Uncanny Vision co-founders, Ranjith Parakkal and Navaneethan Sundaramoorthy, have joined the Eagle Eye leadership team. “We share the Eagle Eye team’s vision to deliver advanced, cyber secure AI Cloud video surveillance offerings that transform video surveillance for businesses around the globe,” Parakkal states in the announcement.
The announcement also cites Alper Cetingok, managing director and head of the security and safety practice at Raymond James, commenting on growth projecetions for AI-enabled solutions. Neither Cetingok or Raymond James were party to the transaction. “The economic model of delivering subscription-based AI on a per-camera basis through a global Cloud infrastructure will ignite growth for security integrators who are otherwise challenged with how to build a financially stable business,” he says.
The company will be demonstrating Uncanny Vision technology at the Eagle Eye Networks and Brivo Cloud Security Summit for resellers being held Nov 1-4, with plans to begin rolling out new features in Q1 and Q2 of next year.
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