Another big step forward for VSBLTY Groupe Technologies Corp. (CSE:VSBY) (OTCPK:VSBGF) was announced today, as the company formalized an agreement to provide real-time crowd analytics and audience measurement for Latin American communities.
The agreement was made with Energetika Technologies, a Mexico-based provider of “intelligent lighting” solutions for economically efficient applications that incorporate security. The contract will last until August 30, 2022, after which it may be renewed for successive terms.
Through the deal, VSBLTY will generate more than $10 million USD in Software-as-a-Service revenue over the initial three years. VSBLTY co-founder and CEO Jay Hutton said that he and his company are “pleased to formalize a long-term contract with Energetika.”
“We will be providing advanced analytics as well as public safety applications, including tracking of persons of interest, weapon detection, and vehicle and crowd analytics using the power of machine learning and computer vision.”
VSBLTY’s Security Tech Will Serve Mexican Municipalities
Energetika provides efficient lighting and Smart Energy solutions for residential, commercial, and governmental applications. Now that the deal with VSBLTY has been formalized, Energetika can utilize the company’s security-focused technology, which includes crowd analytics and facial recognition software.
The deal was first announced in June. Beginning in the fall, the initial deployment will see VSBLTY’s solutions implemented in Cuajimalpa and Cuauhtemoc, two boroughs of Mexico City. After that, further deployments will serve other municipalities throughout the country.
“We have worked closely with Energetika to develop a public safety network of cameras that cost-effectively delivers quality facial recognition at a very cost-efficient price point,” Hutton added.
As part of the contract, VSBLTY will deploy its security-focused software module, VSBLTY Vector. Through next-gen computer vision and machine learning, Vector recognizes both demographic and emotional data within a camera’s field of view. It can identify both objects and faces, whether they are by themselves or part of a high-traffic public area.
If Vector detects a weapon or a person of interest, security measures can be implemented, and the authorities can be contacted instantaneously. Vector will be integrated into Energetika’s Radar application, which emphasizes collaboration between citizens, law enforcement, and technology for security purposes.
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“Our goal has always been smart energy deployment,” said Energetika co-founder and CEO Rodrigo Calderon. “Now, these efforts have been enhanced by the combination of our power efficient lighting systems and VSBLTY’s state-of-the-art software technologies. We are proud to have made security a matter for all citizens.”
VSBLTY Tech is Also Transforming Retail
While the video surveillance market promises to be incredibly lucrative—estimated by BIS Research to be worth $77.21 billion by 2023—VSBLTY Groupe is also positioning itself as a key player in the retail sector.
The company’s proprietary DataCaptor software uses advanced optics and sensors to measure all elements of consumer traffic and provide objective, real-time, qualitative measurements of retail venues. When combined with VisionCaptor—VSBLTY’s digital display solutions—the software delivers custom-triggered content based on who the camera identifies, either by demographics, sentiment, or identity.
In addition to the revenue generated through the Energetika deal, VSBLTY has also been gaining capital through both brokered and non-brokered private placements. In July, it closed an offering of convertible debenture for gross proceeds of $745,500, and at the end of August, the company closed the first tranche of its Echelon-brokered private placement for gross proceeds $1,165,000.
With VSBLTY Vector’s commercial deployment in Mexico fast approaching, and its retail technology already providing an in-depth look at vending machine traffic in South Africa, the company is making important strides towards transforming retail and security spaces. Keep watching this space for more developments from VSBY.
Featured image: DepositPhotos © varuna
