VXG, a video management software (VMS) startup that helps surveillance and analytics companies integrate video streaming with artificial intelligence (AI) applications, has raised a $1 million seed round of financing.
In 2017, VXG’s software was used on NASA’s newest free-flying robot, Astrobee.
The round was led by Verstra Ventures, a Toronto investment firm, and the MaRS Investment Accelerator Fund, which invests in pre-seed and seed-stage high growth ventures. VXG, which is based in Toronto, will use the funding to grow its sales and customer success teams and make the platform available to a broader market.
“Our vision is to make AI scalable and cost-efficient for any video surveillance system,” said Yaro Lisitsyn, co-founder and CEO of VXG. “We are the only platform that allows customers to choose any AI engines, connect them to any number of cameras and extract metadata from a video at a fraction of cost compared to VMS with integrated AI.”
VXG was founded in 2016 to alleviate the lack of adaptability in AI solutions for video, although the core team has worked together since 2003. The startup recently graduated from the DMZ’s accelerator program. In 2017, the software was used on NASA’s newest free-flying robot, Astrobee, on the International Space Station, after a developer from NASA came across VXG’s server on GitHub.
RELATED: Solink raises $5 million for surveillance video auditing software
The VXG platform works with tens of thousands of cameras connected to multiple AI engines to help provide more data availability. The software can run as a private or public cloud and can be relayed between private and public clouds. The platform also allows users to instantly access video streams, providing a bridge to various AI engines.
“The video surveillance and retail analytics industries are on the cusp of being revolutionized by AI,” said Karl Schabas, managing director of Verstra Ventures. “VXG’s products will ensure that all manner of video AI algorithms can be quickly and painlessly deployed at scale.”
Image source Unsplash. Photo by Matthew Kwong
