The Russian developer of artificial intelligence solutions in the field of computer vision VisionLabs has acquired the Indian “daughter” of the operator in the field of navigation activities NIS GLONASS. The amount of the transaction is not disclosed.
The restructuring will help the company qualify for government contracts in India. The country’s government requires companies applying for government contracts to have implementation experience, Kommersant reported.
Revenues, according to VisionLabs’ own data, in 2023 on the Indian market will be about 1 million dollars (about 68 million rubles).
- VisionLabs creates products based on machine vision and machine learning. The company has implemented more than 500 machine vision projects in 37 countries around the world. VisionLabs’ revenue last year amounted to 1.4 billion rubles, 30% more than in 2021.
- In 2022, the revenue of Russian developers of artificial intelligence for facial recognition grew by 30-35%. The companies also increased their exports to the Middle East, Southeast Asia, India and South America.
Author:
karina pardaeva
Source: RB
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