Facial recognition and video analytics firm, XRVision, based in Singapore has garnered funding from global investment firm Boundary Holding, an early-stage technology fund based in Luxembourg. The Singapore-based startup will aim at using the capital to expand into new markets.
XRVision was founded in 2015 by Guy Ron and Yaacov Apelbaum and has previously secured funding from NUS and TNF Ventures. The company reports clients in Singapore, Taiwan, Israel, the US, the UK, and Thailand. To represent Boundary Holding in its Singapore investment, founder Rajat Khare has joined the Board of XRVision. The company would be helping XRVision in entering into new markets and finding a suitable product-market fit.
With XRVision’s growing market potential through Facial Recognition and Video content analytics, Boundary holding aims at leveraging the technology in improving business outcomes in real time. “We value the potential of XRVision’s AI-based technology in recognizing faces, whilst extracting actionable data to maintain public order, and its ability to expand into various industries to assure safety,” stated Rajat Khare, the founder of Boundary Holding.
Video content analysis and facial recognition are gaining an increasingly significant role in various industries such as transportation, higher education, healthcare, retail and more. XRVision is reimagining security through the use of cutting-edge Computer Vision & IoT patented technologies, in concordance with deep domain expertise. The startup aims at addressing some of the biggest security challenges, which governments and enterprises currently face, specifically (1) securing large number of Stationary & Movable Assets using an always-connected and highly secured IoT Access Control solution and (2) performing Facial Recognition in fully uncontrolled, crowded and in-motion environments at the industry’s highest accuracy rate.
About Boundary Holding
Boundary Holding is a new-age technology fund based in Luxembourg, which invests in Angel funds and Venture capital funds across different sub-sectors in Artificial Intelligence. The Investment firm makes funds available in early stage/seed stage startups across IOT, Algorithmic trading, Artificial Intelligence, and Big data Analytics. Founded by Rajat Khare, Boundary Holding primarily acts as a Bridge Fund for startups and organizations and has a network of startup programs around the world and over $200 million in committed capital across different organizations all over the world.
The company seeks to invest in the capital-efficient business models of tech-entrepreneurs, and invest ahead of the AI revolution in companies that are leading the AI space with their innovations.