NtechLab is one of the few Russian technology companies developing their business internationally. Dozens of large cities in Russia, the CIS countries, Latin America and Southeast Asia are already using NtechLab’s computer vision algorithms in their municipal video surveillance systems. NtechLab serves more than 100 customers in 20+ countries worldwide. The office in Latin America operates since 2020. NtechLab products are in high demand in public and corporate security, retail, financial, entertainment and hospitality industries.
In the UAE the company will be focusing on public sector, projects for the needs of the Ministry of Internal Affairs, banking sector and services for shopping malls and retail chains. The presence in Abu Dhabi and Dubai is expected to help NtechLab take up a significant share of the computer vision market in the UAE. The company's special interest in the region is supported by the fact that in 2020 NtechLab attracted investments of about $15 million from an international consortium of sovereign wealth funds including those from the Middle East.
The technological excellence of NtechLab algorithms was recently proved by the #1 position in the Face Recognition Vendor Test (FRVT) competition of the National Institute of Standards and Technology of the US Department of Commerce (NIST). The NtechLab algorithm was recognized by the American institute as the world’s best based on the results of 7 independent tests, and within three tests the algorithm has beaten a record in the entire history of testing. In addition, NtechLab is listed in top three in terms of the effectiveness of face recognition in medical masks.
“The victory in the prestigious international competition is the result of 6 years of work of NtechLab engineers. In addition to very high accuracy, NtechLab algorithm is known for its high efficiency when working in real-life urban conditions, including installations with an unlimited number of cameras. In addition, NtechLab solutions are simple in demands demands to hardware. Thus, our products enable efficient solutions that can be applied for a wide range of customers’ business tasks. At the current stage of development, NtechLab team counts already over a hundred employees, and the company is investing in its international expansion and planning to multiply its revenue growth rate. We expect that our collaboration with new customers in the UAE will contribute to the achievement of this goal”, - said Andrey Telenkov, NtechLab CEO.
NtechLab algorithms have repeatedly proven their technical excellence in industry’s most representative international competitions. In 2017, the algorithm by NtechLab was already recognized as the best one worldwide by the National Institute of Standards and Technology of the US Department of Commerce. It also took #1 position in the competition of the US Agency for Advanced Research in Intelligence in the categories "most accurate" and "fastest" . In 2018, NtechLab became one of the three winners of the WIDER Pedestrian Challenge competition for detecting pedestrians by silhouettes, and in 2019 it won the second prize in the international ActEV-PC competition for recognizing human actions in video.
© Press Release 2021
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