SINGAPORE - SingTel's venture capital unit SingTel Innov8 has agreed to raise its stake in local video analytics firm Kai Square.

It will buy 189,931 shares in Kai Square for $1.95 million, taking its shareholding to 39.15 per cent from 19.08 per cent, SingTel said on Thursday.

SingTel and Kai Square on Wednesday launched a cloud-based video analytics service for retailers. The system will allow shop managers to use data analytics for better customer understanding.

Kai Square, founded in 2006 by Dr Neo Shi Yong and Mr Victor Goh, aims to help clients manage and analyse the large amount of video and other data gathered from monitoring devices.