This startup is using AI to provide CCTV-based video analytics solutions
Founded in 2011, Singapore-based Graymatics provides CCTV-based video analytics solutions to enhance security and surveillance systems.
Closed-circuit television, or better known by its abbreviation CCTVs, are important for ensuring surveillance and security. Amid growing crime rates, accidents, and attacks, CCTVs have become an important source for ensuring safety and security.
Back in 2011, entrepreneur Abhijit Shanbhag realised there are a lot of image and video content available, but the same was not being analysed or translated into actionable data. Realising the passive way of using CCTV captured videos and images, Abhijit launched to enhance the security and surveillance systems.
Image Credit: Graymatics
Graymatics’ solutions can be integrated with existing CCTV infrastructure to draw analytics from the CCTV video and ensure monitoring and surveillance.
The startup was first launched out of the Silicon Valley in the US, but is currently headquartered in Singapore. With offices in the US and Bengaluru, the startup is now looking to further expand its presence in India.
“When we first started up, we focussed on video content available on the internet. For the last three years, we have been focussing on CCTVs as it has become very ubiquitous. However, while CCTVs have ubiquitous coverage, they are used in a very passive way. Only when an incident, crime, or vandalism happens, only then the officers retrieve the video footage to understand what happened,” says Abhijit.
“Our intent is to make active use of the video feed by leveraging our video AI platform to provide analytics and solve operational, safety, and security issues,” Abhijit tells YourStory.
He explains the AI platform can be integrated with existing CCTVs and send immediate alerts in case of any anomalies or non-adherence of protocols.
The startup offers its solutions across verticals such as smart city projects and transportation, smart commercial buildings and factories, and smart bank and retail businesses.
Illustration: YS Design
Providing cognitive multimedia analytics solution
Abhijit says the startup is aimed at transforming massive video and picture content into data to make it usable for various applications.
Graymatics’ solutions have been designed to be integrated with any existing and deployed CCTV devices without the need for any additional infrastructure. The founder explains that since a large number of CCTVs have been already deployed across the world, the solution has been designed to integrate with the existing machines.
The startup offers several video analytics tools such as G3C Labvista for smart laboratories and production units; G3C Urban Vision for smart infrastructure and public services; G3C Siteinsights for security; and G3C Vistamart for retail operations, among others.
Amid the pandemic, Graymatics also introduced Covideo.ai for facial recognition, temperature scanning, contact detection, and adherence to mask and social distancing protocols.
“In India, we are working with a number of cities in South and East India to provide our video AI solutions. We are mainly working across sectors including transportation, smart cities, banks, and fast food, among others,” he explains.
Image Credit: Graymatics
Business and more
The founder reveals that Graymatics charges its clients for the number of analytics licenses they opt for. It offers a subscription model to its clients based on the number of licenses required.
“For example, if a bank has 1,000 cameras, they can select two licenses per camera such as workers’ protocol maintenance or attendance depending on the CCTV placements. Then, in total, the bank will be charged for 2,000 licenses,” Abhijit explains.
The Series A startup has been backed by Citrix Systems, Singapore Prime Minister’s Office, and Quantela, among others. The startup is currently looking to raise its next round of funding within the next six to nine months to accelerate its growth.
According to a report by MarketsandMarkets, the global video analytics market size is expected to reach $14.9 billion by 2026 from $5.9 billion in 2021, growing at a CAGR of 20.4 percent.
New Delhi and US-based Wobot.ai also offers a similar solution. It offers an AI-powered video analytics platform with pre-defined checklists and tasks, which are tracked through existing CCTV cameras.
Speaking about future plans, Abhijit reveals that Graymatics is looking to build a strong presence in India.
“Within the next six months, we are looking to have at least 50 clients across segments in India. In the long term, we want to be a global company that can provide digital transformation across enterprises and public sector to help make the community and the society safer,” he explains.
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Edited by Megha Reddy