Berlin-based promiseQ, a SaaS startup developing an AI-based technology to reduce CCTV false alarms, announced that it has secured fresh funding in its seed round. The funding amount remains undisclosed.
After securing a pre-seed round in 2022, promiseQ claims to have achieved another milestone with a seven-figure investment from existing business angels, including Valentin Schmitt and Uli Schmitt and VC firms ExtraVallis and APY Ventures.
A video intelligence platform
Founded in 2021 by Elias Kardel and Tolga Ermis, promiseQ utilises AI, edge software, and human review analysis to transform video surveillance.
The company’s video intelligence platform aims to eradicate 95 per cent of false alarms in CCTV systems, providing a centralised solution for efficient surveillance management.
promiseQ’s Video Intelligence Platform (VIP) stands out as a centralised management solution, offering users full control and customisation of their video surveillance network.
According to the company, VIP is the top choice for businesses seeking to elevate their security operations. Its features include Device Tree, which simplifies control over multiple sites from a unified dashboard, while the Smart Alarm List ensures rapid response to suspicious activities.
Privacy Zone Control allows businesses to customise surveillance parameters, and Reference Picture Configuration enhances real-time threat detection. Additionally, the Camera Integrity Check feature minimises security downtime by conducting regular health checks on cameras, ensuring optimal performance.
Together, these features make VIP a comprehensive solution for businesses aiming to elevate their security operations.
Currently, promiseQ employs a team of 17 people.
Reducing 95 per cent of false alarms
promiseQ’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 centres.
The technology achieved a 95 per cent success rate in distinguishing false alarms from genuine threats during pilot projects.
The B2B Software-as-a-Service (SaaS) product is already in use by industry leaders like International Security Group and WSD Permanent Security.
Capital utilisation
This funding will propel promiseQ’s innovation in the security sector, supporting product and service expansion for sustained growth.
Co-founder Ermis says, “promiseQ has rapidly evolved into a dynamic and trusted player within the security landscape. Our Video Intelligence Platform, combined with our Threat Filter AI capabilities, has empowered our clients to significantly enhance video surveillance accuracy, reduce operational costs, and drive productivity improvements.
“With this new investment, we’re poised to release new and exciting edge software technology in the form of the promiseQube. With the help of computer vision and generative AI, the promiseQube will provide our customers with new levels of security.”
Brief about the investors
ExtraVallis, a venture fund with bases in California and Berlin, specialises 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.
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