ASX-listed artificial intelligence startup Brainchip Holdings has completed a capital raise of $21.5 million, with plans to invest the money into further developing machine learning video analytics technology. Brainchip, a developer of AI and machine learning software and hardware solutions, has reportedly developed its own spiking neural network, which the company describes as a "neuromorphic computing which simulates the functionality of the human brain". The technology powers Brainchip's flagship product, Brainchip Studio, a tool designed to analyse video footage and recognise patterns or faces. The software is intended for use in law enforcement and intelligence organisations. Brainchip claims the software includes advanced facial detection, extraction and classification algorithms and can run on low resolution feeds, requiring only a 24x24 pixel image to detect a face.