It’s reported that the CCTV market has experienced tremendous growth in the past few months. However, it’s simultaneously reported that the billions of money spent on CCTV security systems are being wasted due to operational inefficiencies such as false alerts emitted by IP cameras.
Luckily, a German startup is already working on technology that will help security firms address the problem and it’s now ramping up expansion plans.
promiseQ, a Berlin, Germany-based provider of cloud-based security services that reduce CCTV ((“closed-circuit television”; video surveillance) false alarms with AI, announced that it has raised a six-figure Pre-Seed funding round.
APX and René Helbig, former CTO of Securitas Germany and owner of WSD Permanent Security GmbH, led this latest investment round. The new capital will be used to finance the expansion program.
Founded in 2020 by Elias Kardel and Tolga Ermis, promiseQ’s cloud-based security services and real-time intelligent video analytics helps video security companies and monitoring centers reduce false alarms caused by IP cameras. By using promiseQ’s B2B SaaS platform, video security firms can lower their costs, improve operational efficiencies, and significantly reduce false alarms caused by IP cameras.
Using its unique Mixed Intelligence approach that combines AI technology and real-time Human Verification, promiseQ said it has achieved a 95 percent success rate in determining false alarms from genuine threats. The company’s cloud-based security solution is now being used within the security industry, i.e. by International Security Group and WSD Permanent Security.