Dubai, United Arab Emirates: Intelex Vision, the pioneering company specialising in AI-driven video analytics for real-time surveillance, is pleased to announce it has successfully closed a £5.6m ($7.0m) Series A funding round, backed by Acurio Ventures, Adara Ventures and Inveready, among others.

Callum Wilson, co-CEO of Intelex Vision commented: “this strategic investment allows us to fuel our commercial growth whilst continuing to invest heavily in the product and disruptive and differentiated AI technology that underpins it”.

Michael Vorstman, co-CEO added “after growing our revenues 11x over the past 3 years, in this new phase of our development we will aim to not only strengthen and expand our position in our existing markets, but also start to address some of the largest ones globally”.

Hugo Fernández-Mardomingo, partner at Acurio Ventures said: “Given the rising insecurity perception in cities and critical infrastructure projects, we see Intelex Vision technology as a game changing opportunity to shift the status quo from forensic post-event data analysis to real-time threat monitoring. We are delighted to be part of this new growth phase in the video analytics industry, and to partner with the outstanding and dynamic team behind Intelex Vision."

Nico Goulet, Founding Partner at Adara Ventures added: “As large-scale CCTV deployments generate ever-growing amounts of data, smarter video analytics are key for real-time threat detection and decision-making. With a scalable solution proven in the most challenging and dynamic environments, Intelex Vision has emerged as a leader in AI-powered video analytics, and we are proud to continue supporting their growth."

Ignacio Fonts, non-executive Chairman of Inveready: “We are happy to see that the excellent performance of Intelex in the recent years has been rewarded with the closing of this important fundraising milestone. We are confident that the combination of a great team, a unique technology and the market potential of AI-powered video analytics will turn Intelex into a shining star among the scaleups  of Europe.”

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About Intelex Vision

Founded in 2017, Intelex Vision is a leading global provider of advanced AI-powered surveillance solutions that leverages 4th generation artificial intelligence to autonomously monitor, analyse and detect safety & security threats in real-time. With a global presence across five continents and partnerships with over 70 distributors and technology partners, Intelex Vision’s AI processes over 2 billion hours of video every month, transforming sectors that include critical infrastructure, transportation, healthcare and urban environments enabling faster response times and improved operational efficiency.

www.intelexvision.com

About Acurio Ventures

Acurio Ventures partners with visionary founders to make history happen. Acurio Ventures is a European early-stage VC investing across sectors and business models, and that relies on its entrepreneurial DNA, flexible approach and proven value add to partner with the best founders. Almost seven years after Acurio Ventures kicked off operations, and after having invested in 90+ companies and more than a dozen funds, Acurio Ventures manages almost €300m across four investment vehicles.

www.acurio.vc

About Adara Ventures

Adara Ventures invests in ambitious businesses, partnering with founders with the capacity, courage, and vision to execute. In the last 20 years, the firm has invested in over 47 companies and manages €250m. Focused on early-stage companies and with a European footprint, Adara’s portfolio includes companies dedicated to cybersecurity, data applications and infrastructure, DevOps, hardware components, digital health, and the energy transition.

www.adara.vc

About Inveready

Inveready is a leading alternative asset manager in Southern Europe with €1.6bn+ of assets under management and a strong focus on high-growth technology companies. With more than 15 years of track record and 64 exits materialised, it provides financing solutions to companies throughout their life-cycle from startup phase up to mature stages.

www.inveready.com

Media contact:  Nausheen.shamsher@proglobal.ae