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ASSA ABLOY invests in Paravision

ASSA ABLOY has invested in Paravision, a provider of advanced facial recognition solutions.

“The investment in Paravision is a strategic technological investment for the ASSA ABLOY Group and will accelerate the development of biometric solutions that leverage facial recognition algorithms and provide complementary growth opportunities,” said Nico Delvaux, president and CEO of ASSA ABLOY, in a prepared statement.

“In partnership, HID and Paravision have already cooperated on projects and we look forward to further advancing our collaboration across a number of different markets and use cases,” said Björn Lidefelt, executive vice-president and head of Global Technologies business unit HID Global.

Paravision was founded in 2013 and has some 31 employees. The company is headquartered in San Francisco, CA.

ASSA ABLOY’s investment is part of a MUSD 23 funding round for Paravision.