Metropolis buys Israeli facial recognition co Oosto

US AI parking platform Metropolis has acquired an Israeli AI facial recognition company buying (formerly known as AnyVision), this has been confirmed by TechCrunch. Globes was the first to report over the weekend that Oosto was in the final stages of its sale to an American company.

The company, founded in 2015, has raised $352 million according to IVC, including $235 million in its most recent funding round in 2021. Oosto investors include SoftBank Vision, Lightspeed, Qualcomm Ventures, Elysian Park Ventures and DFJ. TechCrunch reports that Metropolis is paying just $125 million for Oosto in an all-stock deal and that Oosto CEO Avi Golan and CTO Dieter Joecker will take senior roles at Metropolis.

The move comes, among other things, after the announcement in May 2023 that the company would make cuts to both senior executives and employees, as part of the layoff of about 10 employees out of the company’s 95 employees. Executives who left at that time included the CFO, VP of Marketing, VP of AI, and VP of Research. According to IVC, Oosto currently has 120 employees, 60 of whom are in Israel. Oosto has developed an AI platform for facial, body and object recognition, and serves clients in finance, retail, health, sports and gambling. Among other things, its systems are installed in casinos in Las Vegas and Oklahoma, at a horse racing stadium in Australia, as well as at airports and seaports.

Published by Globes, Israel Business News – en.globes.co.il – on January 20, 2025.

© Copyright Globes Publisher Itonut (1983) Ltd., 2025.