StereoVision Imaging announced that it has closed on a financing package with a leading provider of structured debt products to technology and life science companies.
This deal represents a major step in SVI’s effort to accelerate and diversify its current product slate, through a major acquisition and an injection of working capital.
StereoVision Imaging, Inc.
A portion of the financing will be used by SVI to acquire the assets of Digital Signal Corporation, a leading developer of LIDAR-based facial recognition technology.
“We are thrilled to have access to Digital Signal’s ground-breaking LIDAR technology which will enable us to expand our Identity Intelligence solutions for law enforcement, homeland security, military and other public safety applications,” said Greg Steinthal, Founder and President of SVI.
“The LIDAR-based 3D facial recognition technology which we have acquired from Digital Signal provides extremely accurate, real time facial recognition, capable of identifying non-cooperative individuals or ‘faces-in-a-crowd’ at extended ranges.”
This capability will complement SVI’s hand-held 3D Facial Recognition Binocular System (FRBS), which is currently being delivered to the US Army under a sole-source contract.
Digital Signal Corporation has been a leader in human identification technology, having developed revolutionary facial intelligence solutions, incorporating LIDAR-based sensors, proprietary software and systems, which provide full-cycle Identity Intelligence, including enrollment, monitoring and identity analytics.
Through this acquisition SVI is acquiring a significant portfolio of U.S. and International patents related to the use of LIDAR technology for 3D facial recognition and other potential applications.
StereoVision Imaging is a privately-held corporation based in Pasadena, California. The Company has developed and deployed with the U.S. Military a revolutionary mid-range, hand-held 3D facial recognition technology that integrates traditional binocular optics with proprietary image enhancement facial analytic algorithms.
This technology enables the identification of non-cooperative “persons-of-interest” under challenging uncontrolled environmental conditions with very high levels of accuracy.Source: stereovisioninc.com