Kernel Capital, through the Bank of Ireland Seed and Early Stage Equity Fund, has led a €620,000 (£497,037) investment in Dublin-based Kinesense, a video content analysis software specialist.
The syndicated investment comprises of a €500,000 investment by Kernel Capital with the remainder of the funds provided by BES and Angel investors.
Founded in 2009, the company is said to have developed innovative CCTV video retrieval and analysis solutions for the law enforcement and security markets in particular.
The company’s systems turn raw video into actionable information rapidly and effectively resulting in significant time and cost savings during CCTV video investigations. They are in deployment with police forces and security agencies in Ireland, the UK, Europe, Canada and North Africa.
Market research company RNCOS predicts the worldwide CCTV market to be worth $23.5bn by the end of 2014. Kinesense will use its new funds to drive further growth in international markets.