Costa Mesa-based Veritone Inc. said today it has been awarded subcontracts under a U.S. Air Force project that will use the company’s aiWARE artificial intelligence operating system to increase the speed and accuracy of overhead imagery analysis.
AFWERX, the Air Force’s innovation unit, awarded a Phase II contract under the Small Business Innovation Research program to prime contractor alYnmnt. Veritone has been awarded subcontracts for software license and technology development services totaling $1.3 million in support of this program.
“Veritone is thrilled and honored to be part of the team that won this contract from one of the most respected and technologically advanced U.S. government agencies,” Chad Steelberg, CEO of Veritone, said in today’s announcement.
Veritone (Nasdaq: VERI) shares rose 6.1% to $8.18 and a $225 million market cap.