promiseQ, a Berlin, Germany-based video analytics security provider, has secured undisclosed seed funding.
SaaS Investors
The investment comes from existing business angels, including Valentin Schmitt and Uli Schmitt, and VC firms ExtraVallis and APY Ventures.
ExtraVallis, a venture fund with bases in California and Berlin, specializes in pre-seed to Series A investments in Europe and Southeast Asia. Focused on specific industries, they collaborate with founders addressing significant markets.
APY Ventures, the venture capital arm of Albaraka Asset Management, manages four funds, including the Bilişim Vadisi Venture Capital Investment Fund. This fund concentrates on investing in civil technology startups across diverse sectors such as mobility, games, alternative energy, cybersecurity, and agriculture.
promiseQ Use of Funds
The company will use the funds to develop AI-based technology aimed at reducing CCTV false alarms. The funding will drive further innovation, including the development of promiseQube, a new edge software technology.
About promiseQ
Founded in 2021, promiseQ is a SaaS startup developing an AI-based technology to reduce CCTV false alarms. The company’s video intelligence platform aims to eradicate 95 percent of false alarms in CCTV systems, providing a centralized solution for efficient surveillance management. The company’s flagship product, Threat Filter, is a hybrid AI system that tackles false alarms in security networks, providing online oversight without the need for costly monitoring centers. The B2B Software-as-a-Service (SaaS) product is already in use by industry leaders like International Security Group and WSD Permanent Security.
Funding Details
Company: promiseQ GmbH
Raised: Undisclosed
Round: Seed Round
Funding Month: February 2024
Investors: Valentin Schmitt, Uli Schmitt, ExtraVallis and APY Ventures
Company Website: https://www.promiseq.com/
Software Category: Video Analytics Security
Source: https://siliconcanals.com/crowdfunding/promiseq-raises-seed-funding/