Leading retail software and technology company—and one of Rich’s patented stocks to watch, VSBLTY Groupe Technologies Corp. (CSE:VSBY) (OTCPK:VSBGF), has finalized an agreement with Energetika to provide real-time crowd analytics and audience measurement for Mexican municipalities.
Headquartered in Mexico, Energetika is an international provider of “intelligent lighting” solutions. The company will now be able to implement VSBLTY’s security-focused solutions, specifically its crowd analytics and facial recognition technology, for residential, commercial, and governmental applications in Latin America.
“We are pleased to formalize a long-term contract with Energetika,” said VSBLTY co-founder and CEO Jay Hutton. “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.”
The companies have formalized a definitive three-year agreement that will expire August 30, 2022, though the contract is renewable for successive terms. Through its Software-as-a-Service model, VSBLTY expects to generate more than $10 million USD in revenue over the initial three years of the contract.
Details of the Contract
Energetika initially approached VSBLTY in June as part of its initiative to install safety lighting and integrated security to Mexico City and other designated “Smart Cities” in Latin America.
A smart city is defined as an urban area that uses IoT to collect data and then uses that data to optimize efficiency for its assets and resources. More and more of the world’s larger and economically important municipalities are becoming smart cities, and according to the International Data Corporation, global spending on smart cities technology is expected to reach $189.5 billion by 2023.
Once such municipality embracing this tech is Mexico City, where Energetika and VSBLTY Groupe will initiate deployment of the crowd analytics solutions. Specifically, the companies will target the boroughs of Cuajimalpa and Cuauhtmoc.
VSBLTY’s proprietary security product, VSBLTY Vector, will be its central contribution to the deployment. Vector utilizes video screens with criminal databases to identify persons of interest through computer vision and machine learning. When combined with Energetika’s lighting solutions, Vector will be better able to identify people carrying weapons or other suspicious persons who intend to cause harm.
VSBLTY CEO Jay Hutton explains that his company has 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.”
Following the deployment in Mexico City, Energetika plans to extend its solutions to other locations throughout Mexico.
VSBLTY’s Rising Position in the Security & Retails Markets
In addition to its security solutions, VSBLTY software also has a number of retail-focused applications that can revolutionize the way retailers customize the consumer experience. The company’s DataCaptor software platform uses advanced optics and sensors to provide objective, real-time measurements and analysis of retail venues and consumer traffic.
Based in Philadelphia, has established itself as an exciting software technology company on the rise. In the last few months, it has showcased its Vector software at both the Shepard Sandbox User Conference in Louisville and the 2019 NBA Security Conference & Vendor Summit in Las Vegas.
It will be exciting to watch the company deploy its technology in urban settings, and to see the impact it has on the security of citizens in Cuajimalpa, Cuauhtmoc, and else in Mexico. Stay tuned to RichTV Live for further developments with this industry-leading company.
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