Metropolis Acquires Oosto in a $125M Deal Amid AI Startup Challenges

Metropolis, an AI-powered parking platform, is set to acquire Oosto, a computer vision company previously known as AnyVision, for $125 million, amidst ongoing struggles within the AI startup sector.

Big news in the AI world: Metropolis, the folks who’ve been revolutionizing parking with AI, are snapping up Oosto—yep, the computer vision whizzes who used to go by AnyVision. We’re talking a cool $125 million here, a deal that’s turning heads given Oosto’s rollercoaster ride of a history.

Remember Oosto’s rebrand from AnyVision back in 2021? That was just the start. The company’s been in hot water over its surveillance tech, and despite bagging a hefty $235 million from SoftBank and friends, it’s been tough sledding. Annual revenues? Barely scratching $10 million. Ouch.

Meanwhile, Metropolis has been killing it in the AI parking game, scooping up $1.7 billion last year (mostly to grab SP Plus). So why Oosto? Well, it’s not just about parking anymore. Think bigger—mobility, security, you name it. Metropolis is playing the long game.

Avihai Michaeli, a sharp-eyed advisor from Tel Aviv, chimed in on this. He sees a sweet spot where Metropolis and Oosto’s tech could mesh, especially in AI vision and security. And let’s not forget the elephant in the room—the tricky spot Israeli tech finds itself in these days, which might’ve nudged this deal along.

This whole saga? A stark reminder of how wild the AI startup scene can be. Even the big players with deep pockets and slick tech can hit rough patches. All eyes are now on how Metropolis will weave Oosto’s smarts into its own tech tapestry. Stay tuned.