Veesion develops intelligent video surveillance software that utilizes artificial intelligence to detect gestures indicative of shoplifting in real-time. This technology enables retailers to reduce theft-related losses by up to 60% while optimizing the effectiveness of their security personnel.
Funding
$12.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
OVFounders
Product
Problem
Retailers face significant losses due to shoplifting, and traditional surveillance methods often require constant monitoring by security personnel, which can be costly and inefficient. Existing video surveillance systems often lack the ability to proactively identify potential theft, leading to delayed intervention and increased losses.
Solution
Veesion offers an AI-powered video surveillance software that analyzes real-time video feeds to detect gestures indicative of shoplifting. The software integrates with existing camera systems, using deep learning algorithms to identify suspicious actions and alert store personnel. By focusing on gestures rather than facial recognition, Veesion ensures compliance with privacy regulations while providing an effective tool for loss prevention. The system sends short video clips of potential theft incidents to store staff, enabling them to quickly assess the situation and intervene as needed. This proactive approach helps retailers reduce theft-related losses and optimize the use of their security resources.
Target Audience
Veesion primarily targets retailers, including supermarkets, pharmacies, and general merchandise stores, seeking to reduce shoplifting and improve overall security. The solution is also suitable for security companies and IT service providers looking to offer advanced video surveillance capabilities to their clients.
Features
- Real-time gesture recognition using advanced AI algorithms
- Seamless integration with existing analog and digital camera systems (compatible with 90% of cameras)
- Configurable alerts based on specific suspicious gestures
- Short video clip notifications sent to mobile devices or computers for rapid assessment
- Compliant with GDPR and other privacy regulations, as it does not use facial recognition
- Heat-map visualizations of high-risk areas within the store
- Remote access and monitoring capabilities
- Option for a cloud-based or on-premise deployment