MAD and primeCROWD invest more than half a million euros in the Tyrolean start-up Swarm Analytics
Datum: 2020-01-16 15:32:38
Swarm Analytics: Second financing round successfully closed
Innsbruck, January 16, 2019 - Tyrolean founding investors MAD and the leading start-up investor network primeCROWD have together invested more than € 500,000 in Swarm Analytics, which specializes in the real-time analysis of video data, in the course of a capital increase. Swarm Analytics' technology makes it possible to analyse data from traffic surveillance cameras in real time and thus generate information for Smart Cities on a permanent and comprehensive basis. The collected data serves the future development of modern traffic control systems with many different road users such as pedestrians, bicycles, e-scooters or cars. The invested capital will be used by the management to expand the expansion strategy that has been initiated and to further develop and strengthen the technology and resources for the international partners. This means that in the future more personnel will be available for development and market development, which is to be expanded primarily throughout Europe. "Our solutions are extremely versatile: from parking lots and all types of traffic surveys to shopping centers and smart buildings. Edge AI makes it possible: data protection meets intelligent data collection. With Swarm, data from video cameras is analyzed without violating the privacy of people and objects. The images are never recorded, but only analysed in real time", explains CEO Michael Bredehorn. Markus Kainz, CEO and Co-Founder of primeCROWD, emphasises: "Swarm Analytics has an experienced management team, well-known customers and a strong international orientation. The processing of traffic data for Smart Cities is a huge growth market, which has met with strong investor interest in our network".
About Swarm Analytics: Swarm Analytics develops software for the real-time analysis of video data, such as those used in traffic surveillance cameras. Since the company was founded in 2018, projects in Denmark, Italy, Germany and Austria have been successfully implemented. Among the partners offering products based on Swarm technology are Swarco, Brenner Bernard and A1 Telekom. Further information at www.swarm-analytics.com
Über MAD: The Innsbruck-based founding investor MAD supports young companies with experts in all areas relevant to the company, from product development and finance to sales and marketing, with many years of know-how to transform technologies into scalable products and services. MAD acts not only as a pure financial investor, but also as co-founder, for whom a strong and sustainable business development is important. Further information is available at www.mad.ag