LatamList – CyberLabs, an AI tech startup in Brazil, raised a $5M funding round led by Redpoint eventures. The investment will fund the launch of new technology developed by its AI R&D to help reopen the Brazilian economy.
CyberLabs develops MLaaS and computer vision software for corporations and government agencies. The startup aims to optimize business operations using AI technology and smart data, such as with its main product, KeyApp.
KeyApp uses facial recognition to grant access to offices and buildings and uses smartphone QR codes for check-ins. This new technology will be paramount in helping Brazil reopen after the COVID-19 pandemic in a safe and efficient way.
“The AI we developed during our pilot testing helped to flatten the curve in Rio de Janeiro by proactively reducing public health risks through combining advanced technologies such as computational imaging and machine-learning analysis of live video stream over the public safety network created for the 2016 Rio Summer Olympics,” said Marcelo Sales, CEO and founder of CyberLabs.
The contactless software will be essential in the post-COVID era as Brazil looks to reopen its economy. In the long term, CyberLab aims to help digitize 200 million Brazilians so that almost everyone has a digital form of ID on their smartphones.