Integration Wizards, a Bangalore-based AI business, has been acquired by SparkCognition
- ByStartupStory | March 25, 2022
SparkCognition, a provider of artificial intelligence (AI) software solutions, announced on Friday that it has reached a definitive deal to buy Integration Wizards, a visual AI player, for an unknown sum. It intends to expand its IP portfolio to incorporate computer vision capabilities as part of this acquisition in order to add value to its industry solutions.
The technique, according to SparkCognition, makes use of new and diverse data sets such as CCTV feeds, drone footage, video from portable devices, and current camera infrastructures. Safety, security, visual inspection, productivity, and situational awareness are among the issues addressed by the solution, which can be implemented in hours or days.
Hindustan Petroleum Corporation Limited, Reliance Industries Limited, Heineken, Xerox, Novo Nordisk, and Johnson Controls have all benefited from Integration Wizards’ visual AI technology. 24/7 monitoring, enhanced safety and security measures, greater process automation in factories and facilities, support for autonomous vehicle operations, and environmental and situational awareness are just a few of their important uses.
Acorrding Integration Wizards’ CEO and Co-Founder Kunal Kislay The team is delighted to take advantage of SparkCognition’s extraordinary depth of people, substantial IP portfolio, and deep subject matter experience to provide even more value and a broader AI-based portfolio to our customers.
Last year, SparkCognition bought three AI companies, moving into new areas such as renewable energy, financial services, and logistics. At the start of 2022, it also closed its $123 million Series D fundraising round, giving it a unicorn valuation of over $1.4 billion.
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