Israeli start-up Aspectus Video Intelligence Inc. today announced that it has closed a $2 million round of funding led by New York-based investor 21Ventures LLC.
Aspectus develops video intelligence (VI) and video content analysis (VCA) software that automates video surveillance through embedded and distributed artificial-intelligence engines (cameras, DVRs, DSP encoders, etc.) and generates alerts on suspicious looking activities, security and safety breaches and loss prevention related activities.
The round, which closed earlier this month, will be used to finance additional technology development and increased marketing and sales activities in the US and the EMEA region.
To date, Aspectus has raised over $3.5 million in funding and has also received a $300,000 grant from the Chief Scientist of Israel's Ministry of Industry, Trade and Labor.
The company stated that it is the only provider of an enterprise grade video analytics solution. Aspectus's patented image processing over IP (IPoIPT) family of video analytics software enables the low bandwidth required by video surveillance networks to support extremely large numbers of distributed cameras at low cost.
The company has three years of successful field deployment with customers worldwide, including the US Department of Energy, Israel's Ministry of Justice, the Israeli Prison Service and Israel Railways, plus numerous field trials throughout the US, Europe and Asia.
21Ventures managing partner David Anthony said that the new global threat of terrorism meant the time had come for a next generation of reliable, cost effective digital video surveillance.
"We believe that Aspectus Video Intelligence has jump-started that next generation and will lead the industry with their IPoIPT technology by eliminating the bandwidth restrictions of today's video surveillance systems and drastically lowering the cost of network equipment and its operation."
Published by Globes [online], Israel business news - www.globes.co.il - on April 25, 2006
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