Newly IMDA-Accredited Vi Dimensions Secures Series AA Fundraising
Singapore, 28th September 2018 – Vi Dimensions (ViD), one of Singapore’s leading Artificial Intelligence (AI) companies in security and surveillance, is pleased to announce that it has secured a S$1 million Series AA round as well as being newly accredited by IMDA.
The investors in this Series AA round include DeClout Ventures Pte. Ltd., a group of partners from a leading Asian hedge fund as well as existing investor Tembusu ICT Fund I. The new funds will enable ViD to continue and further accelerate its business expansion plans in US and Europe. Having achieved early customer interest and endorsement in 2017, Vi Dimensions has expanded its business operations with the setting up of a full-time team in North America. The company continues in its unique mass proliferation approach as notable project wins in US and Europe prove that its strategy for mass AI adoption and scaling up of its video analytics technology ARVAS, is working and bearing fruit.
Unlike facial recognition or other conventional video analytic systems, ARVAS can work on almost any camera scene and imposes little additional demand or changes to the existing systems. In addition, ARVAS does not require users to define any rules for anomaly detection. This self-learning, plug and play ease of deployment ability, allows for massive scaling on thousands of cameras in a city surveillance. ARVAS has also demonstrated up to 10 times reduction in hardware costs compared to similar deployments using AI and deep learning.
“Very early on, we knew our unique technology would differentiate in both the domestic and overseas surveillance markets. The true capabilities of ARVAS are best demonstrated in large command centres and the new funds will allow us greater reach to these overseas customers with massive camera counts. ” explains Mr Raymond Looi, Co-founder and CEO of Vi Dimensions.
He continues, “we want to be the first company to run self-learning anomaly detection analytics on thousands of surveillance cameras globally, being the first line of defence towards achieving a virtual net in detecting abnormal events in every deployed camera out there in the world. When that happens, that is true big data analytics on surveillance cameras in a never achieved before scale.”
ViD has also been accredited by the Infocomm Media Development Authority in August 2018; another milestone in recognition of the company’s achievements and the uniqueness of its product. Being SG:D Accredited, it gives confidence to both government and enterprise buyers on the company’s product core functionalities and performance.
Raymond Looi further comments that “Besides giving us a thumbs-up on the performance of our product, Accreditation@SG Digital also redirects our focus on the home country customers. The recent push for digital transformation by IMDA on the security operators to reduce their reliance on manpower and increase AI technology adoption also means the company has now a bigger role to play to help with their transformation.”
“We continue to be very bullish on ViD’s progress and have participated in this financing round as well”, said Brijesh Pande, founder and managing partner of Tembusu ICT Fund I, the largest investor in Vi Dimensions. “The recent fundraising as well as IMDA Accreditation provide additional capital as well as greater technical validation, which will enable the company to expand on its early customer successes in key markets like Singapore, US and Europe.”
“We are pleased that Vi Dimensions has secured this recent round of fundraising; both the funding and VC institutional support will be able to fuel their market expansion plans. We look forward to supporting Vi Dimensions in their next phase of international growth”, said Mr Edwin Low, Director of Accreditation@SG Digital.
Besides being accredited by IMDA, the company has also been certified or achieved interoperability with other notable global vendors. Having successfully integrated with Huawei’s Video Cloud, Milestone, Genetec and Avigilon video management platforms, Vi Dimensions is poised to propel AI adoption in the surveillance industry to greater heights and in an unprecedented scale.
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About Vi Dimensions
Vi Dimensions was founded in 2015 with the simple idea that video analytics can be done in a much better and efficient way with the goal to revolutionize safe city surveillance harnessing thousands of cameras.
Vi Dimension’s vision and mission are to revolutionize the surveillance industry in terms of providing a better way of monitoring CCTV cameras to detect abnormal events and behaviours which could lead to improvements in safety and security throughout the world.
For more information, please visit www.vidimensions.com
About Tembusu ICT Fund I
Tembusu ICT Fund I is a venture capital fund established in 2015 which focuses on promising early-stage software companies. It is the only software-focused fund in Singapore and one of six funds selected by the National Research Foundation (NRF) as part of the Early Stage Venture Fund (ESVF) II scheme, which promotes co-investment in local startups alongside capital invested by NRF. 3 The General Partners of Tembusu ICT Fund I are Tembusu Partners and Pepri Ventures (the investment vehicle of Mr. Brijesh Pande, Managing Partner of Tembusu ICT Fund I). Tembusu ICT Fund I portfolio companies include Deskera, Vi Dimensions, Latize and Sixscape.
For more information, please visit:
About Tembusu Partners
Tembusu Partners is a private equity investment firm investing in promising early and growth-stage companies, with a view to generate optimal returns for both investee companies and investors. Headquartered in Singapore, its primary geographical markets are within Emerging Asia – comprising China, India and Southeast Asia.
For more information, please visit: http://www.tembusupartners.com/
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