Cognitiwe, which offers solutions to retail and production sectors with artificial intelligence-supported image processing technology, received an investment of $605,000.
Cognitiwe, which provides services in areas such as quality control and smart stock tracking with its advanced technology artificial intelligence-supported image processing application developed by focusing on the production and retail, received an investment, under the leadership of TechOneVC and participation of StartersHub, Startup Wise Guys and EGIAD, of $605,000 over a valuation of $3 million.
“Cognitiwe eliminates potential risks and costs by producing high-tech solutions for manual operations”
Artificial intelligence-based video analysis and image processing technology developed on the Cognitiwe Unified Vision platform can be used with current IP cameras without the need for any further hardware investment. By analyzing the images from IP cameras with artificial intelligence and machine learning, the operations in the production sector such as quality control, stock tracking, employee health, or workplace safety can be automated. On the retail side, not only the products on the shelves, but also the display stock of unpackaged products such as fruits and vegetables can be monitored in real-time, and the freshness of the products can be reported instantly. The goal for the upcoming periods is to achieve the same success, especially achieved in the MEA region, in different markets with Microsoft solution partnership.
Convert videos into data!
Cognitiwe has a model that can operate in the cloud, locally, or hybrid in accordance with the operational needs of customers in different fields. Stating that its main income comes from monthly licensing per camera and location through B2B, the team aims to increase its competitiveness in the global market by combining the product with the Unified Vision model with zero-touch SaaS.
‘We will be the market leader!’
The founders Atilla Algan and Mete Bayrak moved the headquarters of the company to Estonia with the investment tour, and they aim to become the market leader in artificial intelligence-supported image processing technologies primarily in the Middle East, Africa, and Europe with the office to be opened in Italy and the offices in Istanbul, Tallinn, and Milan. With the Unified Vision concept it has developed, Cognitiwe processes the output from image processing and the data from the IOT systems by combining them, warns against potential errors before problems occur with its preventive control model, and produces projections for stock planning.
Attila Algan, one of the founders, has stated that the platform they have developed involves important innovations and differs from the image processing applications that are still widely in use, and offers alternative solutions for topics such as quality control in production and stock management in retail without the need for costly equipment. Stating that they have created the concept of Unified Vision by using the output not only from camera images but also from environmental parameters provided by the IOT devices in the solutions they developed, Attila Algan said that in the post-investment period, they will make the Cognitiwe Unified Vision platform widespread by transforming it into a cost-effective Saas structure that can be used by small and medium-sized businesses.