Funding

[Funding alert] Berlin-based promiseQ Secures Seven-Figure Seed Funding

Feb 20, 2024 | By Startup Rise EU

Berlin-based promiseQ secures seven-figure seed funding from existing business angels (including Valentin Schmitt and Uli Schmitt) as well as venture capital investment firms ExtraVallis and APY Ventures (Bilişim Vadisi VCF).

Berlin-based promiseQ secures seven-figure seed funding from existing business angels (including Valentin Schmitt and Uli Schmitt) as well as venture capital investment firms ExtraVallis and APY Ventures (Bilişim Vadisi VCF).

Read also - Edinburgh-based PhaSER Biomedical Secures $2.3Million in Funding

promiseQ's dedication to advancing innovation in the security space is further demonstrated by this latest funding round, which also serves as a vote of confidence from top investors in the field.

The additional funds will be utilised to maintain the company's growth trajectory and broaden its offering of goods and services. This comes after APX and security industry specialists raised a six-figure pre-seed funding round in 2022.

Read also - Berlin-based Monite Secures $6Million in Seed Funding

Tolga Ermis, Co-Founder & CEO of promiseQ, said: “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.”

Elias Kardel, Co-Founder & CTO of promiseQ, added: “I’m incredibly proud of the journey we’ve undertaken in contributing to the future of security technology. Our vision has always been to provide our clients with the most advanced solutions, and today, we see that vision coming to fruition. Together with our dedicated team and strategic partners, we’re excited to add to the innovation being created in the security industry.”

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The Video Intelligence Platform (VIP) from promiseQ is a centralised administration platform that gives users complete control over and customisation options for their network of video security cameras. With so many potent features at its disposal, the VIP is the best option for companies trying to improve their security procedures.

Read also - Bilbao-based WIVI Vision Secures €4 Million in Funding

Threat Filter, the main product of PromiseQ, is a hybrid AI solution that eliminates false alarms that slow down emergency response and jam security networks.

The smart technology eliminates the need for labor-intensive, sizable, expensive monitoring centres by giving consumers complete online control over video surveillance alarms. The unique feature of the false alarm filter is its ability to summon outside, worldwide analysts who are prepared to confirm alarms in previously unheard-of circumstances.

Read also -  London-based Unfabled Secures $1.6Million in Seed Funding

About promiseQ

PromiseQ, a 2021 startup, is revolutionising the administration of video surveillance and removing 95% of false alarms from CCTV by utilising artificial intelligence (AI), edge software, and human review analysis.

Read also - Paris-based Planity Secures $50 Million in Series C Round Funding

promiseQ assists monitoring stations and video security firms in effectively lowering false alarms brought on by IP cameras. Their real-time intelligent video analytics and cloud-based security services are easily incorporated into your video management systems.

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