Iveda Bags $1.3M Smart Pole Purchase Order From IP Dream

Iveda Solutions Inc IVDA forged a strategic collaboration with IP Dream, Inc., with the initial order to purchase 50 Utilus smart pole units for $1.3 million.
IP Dream will supply Utilus to its farming customers that produce high-end fruit in Japan.
IP Dream will use Utilus' video surveillance system with IvedaAI intelligent video search to protect orchards from theft and threats from birds and other animals.
IP Dream will also utilize Utilus in large solar farms to prevent copper theft.
Utilus consists of a smart power management and wireless mesh communications network with WiFi, 4G and 5G small cell capabilities, and other wireless protocols. It helps provide distributed video surveillance with AI video search technology and remote management of local devices.
Iveda is a provider of AI video search, Internet of Things (IoT), video surveillance, and smart city digital transformation technologies.
IP Dream is a provider of IT and communications technology in Japan.
Price Action: IVDA shares traded higher by 6.70% at $2.23 in the premarket on the last check Monday.