Remark AI Solution Pockets $6M, 30-Month Recurring Revenue Subscription Contract
Portfolio Pulse from Akanksha Bakshi
Remark Holdings secured a 30-month recurring revenue subscription contract worth over $6 million to equip Rio De Janeiro police cars with license plate and facial recognition capabilities. The deal establishes credibility for a potential $130 million opportunity in Sao Paulo.
May 31, 2023 | 5:07 pm
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Remark Holdings secures a $6M contract for AI tech in Rio police cars, potentially leading to a $130M opportunity in Sao Paulo.
Remark Holdings secured a significant contract worth over $6 million, which establishes credibility for the company and opens up the possibility of a much larger $130 million opportunity in Sao Paulo. This positive news is likely to have a short-term positive impact on the company's stock price.
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IMPORTANCE 80
RELEVANCE 100