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AI startup XRVision bags funding from Boundary Holding

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Richi Rich
AI startup XRVision bags funding from Boundary Holding

XRVision, a facial recognition and video analytics Singapore-based company, received an undisclosed sum in funding from Luxembourg’s Boundary Holding. The technological startup aims to make a mark in the security sector of the artificial intelligence (AI) industry. This is one of the major investment stories after Nodeflux bagged funding from venture capital firm East Ventures earlier this year. Similar to the startup, this firm deals video-processed information with the help of deep learning.

Founded by Guy Ron and Yaacov Apelbaum (who has been the head of groups at Microsoft, Intel, and Avaya) in 2015, XRVision aims to solve prolonged security issues with the integration of IoT and AI. The primary objective of the company includes facial recognition in a crowded environment. In addition to that, IoT will focus on monitoring tangible assets as well as person of interest.

Rajat Khare, the founder of Boundary Holding said, “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.” He will join the board of XRVision by the end of this year.

Boundary Holding is known to invest in budding startups by visionary entrepreneurs that operate in the field of big data analytics, artificial intelligence, algorithmic trading, and IoT. The company has over $200 million in committed capital spread globally across multiple companies.

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