AI-powered computer vision software developer AxxonSoft to expand into Lithuania

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AxxonSoft, developer of video management and physical security information management software, has announced plans to open an office in Lithuania. The new branch will be part of a global development team producing the company’s computer vision product. The AI-based solution provides physical security and handles a variety of surveillance-related business tasks. The company plans to hire at least 25 specialists in Lithuania in the first three years.

AxxonSoft is an international company founded in 2003 by Murat Altuev, who, while still a student, became interested in the development of systems for analyzing and managing multimedia data streams. Soon after, he assembled a team of like-minded engineers and software developers. The company quickly rose to prominence after developing Motion Wavelet, a proprietary video codec that paved the way for building large-scale digital video surveillance systems.

Within three years they had become the leading security software developer in Russia, and by 2007 they had begun their international expansion. In 2008, the company’s revenues made it the largest developer of open network video management software in the EMEA region. Since 2016, the company has focused its research and development efforts on deep learning-based video analytics, resulting in a turnkey neural network training program. The company made the strategic decision to expand its sales force globally and develop AI-based solutions that meet the specific needs of each customer.

According to Murat Altuev, founder of AxxonSoft, Lithuania was chosen as the location for extensive software development services, not only for its high levels of computer training, but also for government support.

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