SaaS based software technology company Vsblty is one of five founding partners of new startup Austin GIS, formed to focus on large Infrastructure as a Service (IaaS) projects involving the internet of things (IoT) and 5G radio access networking (RAN).
IaaS is an increasingly popular way to finance large IT infrastructure projects, and Austin GIS will address the market for large-scale infrastructure in support of computer vision and machine learning.
Philadelphia-based Vsblty will contribute retail analytics and computer vision technology to the startup in an exclusive provider arrangement, and will focus on enabling Device as a Service, Retail Analytics as a Service, and Smart City Analytics as a Service. Vsblty’s retail offerings include facial recognition application Vector for enhanced security.
With $6 million in seed investment; $1.25 million each from Indian technology companies HCL and Tech Mahindra, $1 million from Vsblty, and a further $2.5 million from two other companies who will be named at a later date, one of them a member of the Fortune 500.
Vsblty will invest in Series A Preferred Stock, purchasing a 10 percent seed position in the startup, says Co-founder and CEO Jay Hutton, while HCL and Tech Mahindra will gain 13.9 and 13.8 percent, respectively. “Vsblty is excited to be joining other leading global tech companies as partners in this strategic ground floor joint venture,” says Hutton.
In July Vsblty announced a new collaboration to provide first responders and 911 telecommunicators with the ability to access biometrics and other incident data from Vsblty’s Vector software via RapidSOS.
5G | Austin GIS | biometrics | computer vision technology | facial recognition | HCL TECHNOLOGIES | investment | IoT | machine learning | smart cities | VSBLTY