Business
Maris-Tech Receives Purchase Order of $1.1 Million from a Leading Israeli Defense Company
The purchase order is for the Company's advanced AI video solutions REHOVOT, Israel, Dec. 27, 2022 (GLOBE NEWSWIRE) -- Maris-Tech Ltd. (Nasdaq: MTEK)
About this update from Maris-tech Ltd.
[{"type":"text","content":"The purchase order is for the Company's advanced AI video solutions REHOVOT, Israel, Dec. 27, 2022 (GLOBE NEWSWIRE) -- Maris-Tech Ltd. (Nasdaq: MTEK) (“Maris-Tech” or the \"Company\"), a B2B provider of intelligent video transmission technology with AI acceleration for edge platforms, today announced a major milestone with the receipt of a $1.1 million purchase order for a derivative product of its Jupiter AI platform, from a leading Israeli defense company customer, an existing customer of the Company. The order received for the Company's new product, Jade, which is based on a Jupiter AI derivative platform, an advanced and multi-stream codec, is the result of a tight and efficient integration between Maris-Tech’s Jupiter-Nano and Hailo’s Hailo-8™ AI accelerator with up to 26 tera operations per second (TOPS). This integration provides an ultimate hardware and software solution for remote platforms, named “Maris Edge,” enabling video streaming, recording, debriefing and AI at the edge. “We are extremely proud to have received this purchase order from a respected Israeli defense company which has been working with us for a couple of years. This is the largest purchase order the company has received so far.\" said Israel Bar, Chief Executive Officer of Maris-Tech. \"Jupiter AI is a powerful and reliable platform, and we are confident that it will deliver exceptional results for our customer. We are excited to see the impact it will have on their operations and look forward to future opportunities to work together.\" \"Maris-Tech is committed to continuing to innovate and deliver top-quality Edge AI video streaming solutions to its customers and looks forward to future growth and success,\" Bar added. According to Allied Market Research, the video analytics market is expected to reach $21.7 billion by 2027, registering compound annual growth rate (CAGR) of 22.7% from 2020 to 2027. This growth is being driven by the lightning-speed adoption of AI technologies, the popularity of autonomous platforms, and the need for edge computing to process the masses of data being generated in real-time from these platforms. About Maris-Tech Ltd. Maris-Tech is a B2B provider of intelligent video transmission technology, founded by veterans of the Israel technology sector with extensive electrical engineering and imaging experience. Our products a...