Iveda Signs Strategic Partnership with Arab Organization of Industrialization and ZeroTech

July 09, 2024 at 08:00 AM EDT

Powerhouse organizations collaborate to bolster AI-empowered security solutions across Egypt

Iveda® (NASDAQ: IVDA), the global solution for cloud-based AI, today announced that it has signed a strategic partnership with The Arab Organization for Industrialization (AOI) and security hardware and software developer, ZeroTech. This collaboration and implementation of IvedaAI™––Iveda’s AI-powered intelligent video search technology––will effectively enhance ZeroTech’s suite of security offerings, strengthening the organization’s position in the Egyptian market and adding tremendous value to its existing customer base.

The AI market across Egypt is expected to reach upwards of $877M (USD) in 2024. As the Egyptian government works towards realizing its goal of introducing 38 new smart cities across the country by 2050, powerful technology partnerships are becoming critical. As the preferred choice for security and safety in Egypt, ZeroTech’s addition of IvedaAI into its video surveillance systems, fire and intrusion detection, fingerprint and access control, home automation, and more, will enable even smarter security solutions for customers across the nation.

“Iveda’s strategic alliance with the AOI and ZeroTech is pioneering a new era of security solutions in Egypt,” said David Ly, Iveda CEO and founder. “This collaboration embodies a fusion of expertise, marrying the best in manufacturing prowess with potent, AI-driven technology. Together, we are not only enhancing the effectiveness of security systems, but also empowering communities with immediate, tangible safety benefits. This partnership symbolizes our unwavering commitment to innovation and excellence, ushering in a safer and more secure future for all in Egypt.”

Iveda first partnered with AOI in August of 2023, appointing Major General Ashraf Hassan to the advisory board later that month and more recently opening an office and demonstration space in Cairo as the organization continues to expand its footprint across the region. This partnership marks the region’s first fully integrated offering, suitable for everyone from enterprise to small shop owners.

“As two technological powerhouses come together, we anticipate the collaboration between Iveda and ZeroTech to transcend boundaries, reaching far beyond the horizons of Egypt,” said Major General Ahmed Mohamed Abd Elaziz, Chairman of AOI Electronics. “Our partnership harnesses the strengths of both entities to create innovative solutions that redefine the global security landscape.”

“As we join forces with Iveda––layering IvedaAI’s capabilities into our own hardware––ZeroTech celebrates a new era in security,” added Yasser Helmy Abu-Hashim, General Manager of ZeroTech. “IvedaAI’s accurate and swift machine vision technology has the power to propel ZeroTech to the forefront of innovation in Egypt and beyond. Together, we're setting a new standard for security solutions, empowering our clients with unparalleled protection and peace of mind.”

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About Iveda Solutions®

Iveda (NASDAQ: IVDA) is the provider of global solutions for cloud-based, video AI search and surveillance technologies that protect the people, places, and things that matter the most. Iveda’s technology has the power to provide instant intelligence to existing infrastructure, enabling cities and organizations around the world to seamlessly enter the fifth industrial revolution. Iveda operates at the forefront of digital transformation of cities across the world, using IoT platforms with smart sensors and devices developed to aid with use cases surrounding public safety, security, elderly care, energy efficiency, and environment preservation. Headquartered in Mesa, Arizona, with a subsidiary in Taiwan, Iveda is publicly traded under the ticker symbol “IVDA”.