Business
Gorilla Technology Commences Smart Government Project in Egypt, Marking A New Era in AI Innovation
LONDON, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Gorilla Technology Group Inc. ("Gorilla") (NASDAQ: GRRR), a global provider of AI-based edge video analytics, IoT
About this update from Gorilla Technology Group Inc.
[{"type":"text","content":"LONDON, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Gorilla Technology Group Inc. (\"Gorilla\") (NASDAQ: GRRR), a global provider of AI-based edge video analytics, IoT technologies, and cybersecurity, with the receipt of the advance payment from Government of Egypt, announced the official commencement of its ground-breaking project that will provide the Government of Egypt with a Smart Government Security Convergence solution. The project is a significant step forward for the country and will contribute to Egypt's Vision 2030 objectives. \"Driven by global threats, we are pushing the boundaries of cutting-edge technology innovation and progress for defence networks. We are thrilled to kickstart the project and embark on this journey. I am extremely proud of the Gorilla team and elated to share a profound commitment that beats at the heart of my endeavours, the unwavering dedication to transforming Egypt into a technological giant,” said Jay Chandan, Gorilla’s Chairman & CEO. “With our keystone project in Egypt progressing, we have begun generating revenue and cash flow, increasing our cash balance and providing ample runway to capitalize on the growth opportunities ahead of us.” Gorilla has assembled a team of experts and visionaries to spearhead the project. The project's key objective is to improve the efficiency and effectiveness of security operations while enabling better decision-making, proactive threat detection, and quick response to emerging risks. “This partnership combines Gorilla's networking power, solutions expertise, and scalability with the best-in-class managed services capabilities. We are confident that our team will usher in a new era of large-scale service delivery for mission-critical networks. We won this groundbreaking project due to our technical capabilities and comprehensive and in-depth research process, where diligent exploration and meticulous analysis have played pivotal roles. The dedicated individuals involved on both sides have invested substantial time and effort in building the capabilities required and creating value for the customer. Their commitment is underscored by a profound passion for identifying challenges and engineering creative and effective solutions,\" said Mohan Raj Kumar, Global Head of Customer Success for Gorilla. Heading the project is Suresh Jayachandran, Gorilla’s Director of Cust...