Perth-based artificial intelligence surveillance company icetana AI has secured a multi-faceted $3.6 million strategic partnership with SoftBank Robotics Group that will see the Japanese technology giant become its largest shareholder.
The deal sees SoftBank Robotics Singapore investing $1.87 million for a 17.6 per cent equity stake in the ASX-listed company, paying two cents a piece for 93.7 million fully paid ordinary shares.
The investment represents a 33 per cent premium to icetana's 15-day volume-weighted average price of 1.5 cents.
SoftBank Robotics Corp has also been appointed as icetana's exclusive distributor in Japan for an initial 12-month period, with a guaranteed minimum purchase commitment of US$450,000 in annual recurring revenue.
The partnership includes a three-year joint product development program worth $1.08 million, designed to integrate icetana's AI analytics with SoftBank's automation and security solutions.
The collaboration builds on icetana's existing presence in Japan through its partnership with distributor Macnica, which remains a global distributor and substantial shareholder in the Australian company.
icetana specialises in self-learning security AI software for large-scale surveillance networks, with technology that learns normal patterns for each camera and identifies unusual or potentially dangerous events in real time.
The company's AI solution is currently deployed across more than 30 clients, 75 sites, and 16,000 cameras across 15 countries, serving industries including retail, hospitality, public safety, transportation, and education.
"Adding to our existing partnership with Macnica, this agreement with SoftBank Robotics Group represents a major step forward for icetana AI in Japan," Kevin Brown, chief executive of icetana AI, said.
"Their global leadership in AI and commercial scale in Japan create an ideal launchpad for our next phase of growth."
As part of the go-to-market strategy, SoftBank plans to launch a one-month free trial campaign in Japan, allowing customers to test licences for up to 50 cameras with advanced analysis, facial recognition, and licence plate recognition functionality.
"We are excited to collaborate with icetana AI to bring cutting-edge video intelligence to our customers," Kent Yoshida, chief business officer at SoftBank Robotics Group Corp, said.
"Their technology is a natural extension of our AI innovation strategy, and we look forward to driving growth together in Japan and beyond."
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