Kinesense, a Dublin-based start-up that has developed CCTV video retrieval and analysis solutions for the surveillance and security markets, has secured a €620,000 syndicated investment to focus on its international growth strategy.
Kernel Capital led the syndicated investment via the Bank of Ireland Seed and Early Stage Equity Fund, with the remainder of the funds being provided by BES and angel investors.
Kinesense itself was founded in 2009 by Mark Sugrue and Sarah Doyle. It now employs six people in Dublin and is supported by Enterprise Ireland.
The company’s systems, which aim to turn raw video into actionable information rapidly during CCTV video investigations, are being used by police forces and security agencies in Ireland, UK, Europe, Canada and North Africa. The company said it will use the investment to help it achieve further growth in international markets.
According to research carried out by the market research company RNCOS earlier this year, the worldwide CCTV market could reach US$23.5bn by the end of 2014.
“Kinesense developed its time-saving video search solutions over a number of years of advanced research, testing and deployment with security agencies," said Sarah Doyle, Kinesense CEO. "We are seeing real traction for our solutions in many markets and this investment will enable us to accelerate international growth and expand our solution range to solve the issues surrounding the growing prevalence of CCTV for organisations."
Video surveillance image via Shutterstock