VSBLTY, HCL TECHNOLOGIES & TECH MAHINDRA AMONG FIVE COMPANIES CREATING NEW FIRM TO FOCUS ON LARGE IAAS PROJECTS
PHILADELPHIA, PA., September 8, 2021 (GLOBE NEWSWIRE)—VSBLTY Groupe Technologies Corp. (OTCQB: VSBGF) (CSE: VSBY) (Frankfurt 5VS) (“VSBLTY”), a leading software provider of security and retail analytics technology, announced it is one of the five founding partners of Austin GIS, a new company that will focus on large IaaS projects leveraging computer vision, machine learning and infrastructure. IaaS stands for Infrastructure as a Service and is emerging as an innovative and creative way to finance large IT infrastructure projects. HCL Technologies and Tech Mahindra are also founding investors, along with two additional participating firms, including a Fortune 500 company, that will be named later.
The founding companies are investing $6 million USD in an initial seed round financing. HCL and Tech Mahindra are investing $1.25 million USD each in the Delaware, USA-based Infrastructure as a Service startup. The investment will net HCL 13.9 percent Series A preference shares of Austin GIS while Tech Mahindra will gain 13.8 percent.
VSBLTY Co-founder & CEO Jay Hutton announced that his company is making a $1 million USD investment in Series A Preferred Stock to purchase a 10 percent seed position in Austin GIS. Hutton pointed out that Series A shares have a preference on dividends, liquidation and other rights, adding, “VSBLTY is excited to be joining other leading global tech companies as partners in this strategic ground floor joint venture.”
As an industry leader in computer vision and retail analytics, as well as security technology, VSBLTY is the exclusive retail analytics and computer vision provider to the new entity, which is designed to take advantage of the growth opportunities in the industries of Internet of Things (IoT) and 5G RAN. VSBLTY will focus on Device as a Service, Retail Analytics as a Service, and Smart City Analytics as a Service.
VSBLTY technology provides enhanced customer engagement and audience measurement including store traffic and customer demographics. Its industry-leading VisionCaptor™ and DataCaptor™ software combine motion graphics and interactive brand messaging with cutting-edge computer vision measurement and insights. VSBLTY’s AI-driven software, Vector™, provides advanced facial recognition that is crucial to enhancing security in a variety of environments.
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Jonathan Paterson, 203-862-0492
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CONTACT: Linda Rosanio, 609-472-0877
About VSBLTY (vsblty.net)
Headquartered in Philadelphia, VSBLTY (OTCQB: VSBGF) (CSE: VSBY) (Frankfurt: 5VS) (OTC: VSBGF) (“VSBLTY”) is the world leader in Proactive Digital Display™, which transforms retail and public spaces as well as place-based media networks with SaaS-based audience measurement and security software that uses artificial intelligence and machine learning.
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