Metropolis Acquires AI Vision Firm Oosto in $125M Deal

AI-powered parking platform Metropolis is acquiring computer vision company Oosto, formerly known as AnyVision, for $125 million, marking a significant consolidation in the AI vision technology sector.

Oosto has experienced a complex trajectory since its founding. The company, which develops computer vision and surveillance technology, raised $235 million in a funding round led by SoftBank and Eldridge in 2021. During this period, SoftBank’s advisors expressed strong confidence in facial recognition and computer vision technology as essential biometric security solutions. However, according to Israeli newspaper Calcalist, the company’s annual revenues did not exceed $10 million, indicating significant challenges in monetizing its technology.

The company underwent several transformative events, including rounds of layoffs and the termination of its research partnership with Carnegie Mellon University. This partnership had initially been established as part of the company’s strategic pivot, which included rebranding from AnyVision to Oosto in an effort to expand beyond security applications into organizational safety and customer experience solutions.

Despite these challenges, Oosto has maintained a significant presence in the computer vision market, implementing its technology across various sectors. The company has deployed its solutions in high-profile applications, including luxury casino services in London and port logistics operations in Israel, while actively participating in discussions about ethical guidelines for facial recognition technology.

For Metropolis, this acquisition follows its recent $1.5 billion purchase of SP Plus in 2023. The company has secured $1.7 billion in financing and aims to integrate Oosto’s computer vision capabilities into its parking automation systems.

The acquisition occurs during a period of significant evolution in the AI industry, as companies navigate technological advancement, regulatory frameworks, and public perception of AI applications.

Sources: TechCrunch, Passport Photo Online, TechCrunch, PhotoAiD, Coolest Gadgets

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January 20, 2025 – by the ID Tech Editorial Team