Funding Boost Set To Accelerate Product Development For UK Based Intelex Vision
The corporate team from the Birmingham office of Irwin Mitchell have acted in the latest investment round for a UK based technology firm specialising in threat analytics.
Led by Matt Smith and Nick Dawson, the Irwin Mitchell team advised Intelex Vision on the completion of a new equity investment round of £2.5m, backed by tech investors Adrara Ventures and Inveready.
Intelex Vision provides unusual behaviour and threat analytics solutions through its iSentry platform. The autonomous video analysis system uses algorithms to learn normal behaviour patterns of objects captured on a CCTV feed and analyse in real time.
iSentry’s artificial intelligence “watches” endless amounts of video and through a combination of AI, deep learning, rules and automation, enables an individual operator to effectively monitor across the hundreds of live cameras, providing scale, efficiency and effectiveness to control room environments.
This latest investment will allow the firm to build on its years of experience, to focus on new product development and boost the firm’s ambitious plans to be market leaders in artificial intelligence, centred on the practical solutions Intelex offers.
Expert Opinion“There is enormous potential in the AI and video analytics sector and we are delighted to have advised Intelex as the AI and video surveillance specialists take the next step in their future plans.”
“Technology-rich firms will play a key part in the post-pandemic recovery and this funding round gives Intelex the platform to cement its place and reputation in an expanding marketplace.” Matt Smith - Senior Associate Solicitor
Callum Wilson, CEO of Intelex Vision, said “We are delighted not only with the funding that will allow us to accelerate our product development and commercial reach, but also with the quality of our new investors and the trust they have put in us to address this exponentially growing market.”
Nico Goulet, Managing Partner, Adara Ventures, said: “Throughout the process of investing in Intelex, we have been impressed by the quality of execution that Callum, Michael and the team have exhibited”.
“From product development to marketing through to the network of partners, the team at Intelex executes their strategy with consummate capability, attention to detail, and maturity. This ability to execute has been key to building our confidence in their ambitious objective to disrupt the threat detection and video analytics market.”
Ignacio Fonts, Managing Partner at Inveready, said: “We are delighted to see that our investment in Intelex will contribute to make the world a more secure place to live in. It is gratifying to see that the use of their proprietary technology can save money to their customers while enriching jobs within the surveillance industry.”