SparkCognition, a global leader in artificial intelligence (AI) software solutions perfect for business, is please to announce it has sign a definitive agreement to acquire Integration Wizards, a leader in visual AI.
Through this acquisition, SparkCognition expands its IP portfolio to include computer vision capabilities, bringing greater value to its industry solutions.
The technology leverages new and diverse data sets, including CCTV feeds, drone footage, video from handheld devices, and existing camera infrastructures.
The solution can be deploy in hours or days, and helps address critical problems, including safety, security, visual inspection, productivity, and situational awareness.
Amir Husain, Founder and CEO of SparkCognition 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,”.
“Integration Wizards has delivered visual AI at scale for innovators and Fortune 500 customers alike, saving lives, safeguarding assets, and driving demonstrable productivity gains.”
Since its inception in 2014, Integration Wizards’ visual AI technology has provide solutions to global organizations including Hindustan Petroleum Corporation Limited, Reliance Industries Limited, Heineken, Xerox, Novo Nordisk, and Johnson Controls.
Their customers span 16 countries and service over 20,000 users.
Key applications include 24/7 monitoring, enhancing safety and security initiatives, improve process automation in factories and facilities, support for autonomous vehicle operations, and environmental and situational awareness.
Kunal Kislay, CEO and Co-Founder of Integration Wizards Said :
“We are thrilled to join SparkCognition, building on their leadership in AI and proven industry solutions. The team is excited to capitalize on their incredible depth of talent, considerable IP portfolio, and deep subject matter expertise, providing our customers with even greater value and a broader AI based portfolio,”.
“The breadth of SparkCognition’s AI solutions and services, coupled with our extensive experience in deploying Visual AI capabilities to Fortune 500 customers, will be a game changer.”
This announcement comes following a year of record growth for SparkCognition, doubling revenue year-over-year.
Last year the company also acquired three AI businesses, expanding into key markets including renewables, financial services, and logistics.
SparkCognition announced the close of its $123 million Series D fundraising round and a unicorn valuation of over $1.4 billion at the start of 2022.
Shri Ch. Srinivas, CGM – Digital Initiatives, Hindustan Petroleum Corporation Limited (Integration Wizards Customer) Said :
“As part of the digital transformation journey, HPCL is deploying AI based visual analytics across its retail network to improve customer satisfaction and safety. The solution being implemented covers more than 1,00,000 CCTV cameras, by far the largest implementation of vision analytics in the country”.
“AI has been instrumental at advancing the use of data within our organization and I am excited by the breadth of AI solutions to help us provide cutting edge solutions for improving customer convenience and service, predict future events, and optimize processes.”
About SparkCognition
SparkCognition’s award-winning AI solutions allow organizations to predict future outcomes, optimize processes, and prevent cyberattacks.
We partner with the world’s industry leaders to analyze, optimize, and learn from data, augment human intelligence, drive profitable growth, and achieve operational excellence.
Our patented AI, machine learning, and natural language technologies lead the industry in innovation and accelerate digital transformation.
Our solutions allow organizations to solve critical challenges—prevent unexpected downtime, maximize asset performance, optimize prices, and ensure worker safety while avoiding zero-day cyberattacks on essential IT and OT infrastructure.
