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Expanding its New Space Activity Worldwide - Maris-Tech Receives a Grant from the Israel Innovation Authority for the Development of Ultra-HD Surround Video And AI-Based System on a budget of 3.17 million NIS ($880 thousand).
The Israel Innovation Authority will provide Maris-Tech with a grant of 1.2 million NIS ($333 thousand) to support the first year development of an innovative
About this update from Maris-tech Ltd.
[{"type":"text","content":"The Israel Innovation Authority will provide Maris-Tech with a grant of 1.2 million NIS ($333 thousand) to support the first year development of an innovative system for onboard situation awareness for nanosatellite platforms. Rehovot, Israel, June 22, 2023 (GLOBE NEWSWIRE) -- Maris-Tech Ltd. (Nasdaq: MTEK) (\"Maris-Tech\" or the \"Company\"), a B2B provider of edge AI accelerated video solutions for edge platforms, today announced that it has received a grant from the Israel Innovation Authority (“IIA”) to develop a system for peripheral photography, recording, transmission, and artificial intelligence for nanosatellites and space platforms. The IIA will fund part of the project's budget for the first year with a 1.2 million NIS ($333 thousand) grant to Maris-Tech and may grant additional funds to support the second year of the project. The grant will be used to fund the development of an innovative, state-of-the-art product based on the Company’s Uranus-AI edge computing technology for the new space market through R&D, testing, and evaluation of technology. Maris-Tech will design the product, which will enable surround Ultra-HD video capture, recording, and upload, as well as AI acceleration for spacecraft anti-collision, proximity estimation, landing, and other customer-defined algorithms. The holistic platform will allow cameras in Space to take and transmit high-quality video and still images and implement AI algorithms at the edge in real-time. \"Maris-Tech is a proud member of the Israeli new space technology club, having provided the video recording and streaming solution on the 2019 SpaceIL “Beresheet” spacecraft and has been awarded the video solution for the “Beresheet” 2 Lunar Mission, which is under development. This new development grant will bring Maris-Tech's pioneering solutions to the forefront of the nanosatellite market,\" said Israel Bar, CEO of Maris-Tech. About Maris-Tech Ltd. Maris-Tech is a B2B provider of video streaming and AI technology, founded by veterans of the Israel technology sector with extensive electrical engineering and imaging experience. Our products are designed to meet the growing demands of commercial and tactical applications, delivering high-performance, compact, low power and low latency solutions to companies worldwide, including leading electro-optical payload, RF datalink and...