The founders of SecurifAI, developer of video analysis solutions recorded by surveillance or monitoring cameras, aim to get EUR 200,000 by listing on the crowdfunding platform SeedBlink. The listing on the platform dedicated to technology start-ups will take place tomorrow, August 25.
SecurifAI develops artificial intelligence software that automates the real-time analysis of images captured by traditional video surveillance systems. The company was launched in 2016 by Valeriu Filip, Andrei Gogan – IT specialists with almost 20 years of experience – and Radu Ionescu, Professor Dr. at the Department of Artificial Intelligence (Faculty of Mathematics and Informatics of the University of Bucharest).
The amount of EUR 200,000 will be used in the next 16 months for the development of SecurifAI’s technical and sales teams. At this moment the company has ten employees. The investment round will be led by GapMinder, a capital fund that last year invested EUR 50,000 in SecurifAI.
“Listing on SeedBlink is a very important step for us because it will support the growth of the SecurifAI team and, implicitly, our development on the local market. We want to recruit very well trained people, both technical and sales specialists. The amount of money will be used in the next 16 months to develop our plans for Romania. To expand globally, another key point in our growth strategy, we will need a new round of investments in the next three years”, states Valeriu Filip, SecurifAI managing partner.
SecurifAI’s management estimates that through this listing it will obtain EUR 75,000 from the GapMinder fund and EUR 125,000 from the investors on SeedBlink, with the possibility of overwriting up to the limit of EUR 150,000.
“We are happy that the thirteenth equity crowdfunding campaign on SeedBlink is a «deep tech» company. We chose to support SecurifAI because it used artificial intelligence for the benefit of the community, with a solution «made in Romania», but globally scalable. We welcome the participation in this round of GapMinder Venture Partners as a lead-investor”, says Andrei Dudoiu, co-founder and CEO of SeedBlink.
So far, SecurifAI has obtained funds of approximately EUR 250,000: EUR 200,000 representing research grants and EUR 50,000 as a pre-seed investment from GapMinder.
The co-founders also invested over EUR 200,000 during the four years since the company was created.
“The global video analytics market will grow from $ 4.9 billion in 2020 to $ 11.7 billion in 2025, according to a study presented in June by the research firm MarketsandMarkets. These data shows that SecurifAI solutions are very important for companies. This new investment reconfirms our confidence in SecurifAI, a company that develops solutions in the area of artificial intelligence, an extremely effervescent field that will continue to grow“, says Cristian Dascălu, Gapminder Venture Capital partner and co-founder of Techcelerator.
What SecurifAI solutions do and who uses them
SecurifAI solutions can detect unusual events (anti-social behavior, fainting, cars or pedestrians in forbidden areas, etc.), abandoned objects, car registration numbers, a person’s pulse, can recognize the face and facial expressions. SecurifAi solutions can be used in fields such as retail (shelf product monitoring, customer age, gender, etc.), energy, construction, smart city infrastructure, finance, banking, transport, agriculture, production and logistics. The main areas of customer interest are: work safety in construction/production spaces with an emphasis on real-time information and the retail area with an emphasis on statistical data, consumer/visitor profiling, lack of stock or compliance with the products planograms.
SecurifAI has five clients in areas such as energy, retail, smart cities and finance. SecurifAI’s largest customer is OMV Petrom.
International expansion, opening of an office in the USA
One of SecurifAI’s main objectives for the next years is to expand internationally. Thus, recently, the company opened an office in Sussex (Delaware State, USA) and applied for the registration of a patent in the USA in the field of work safety (HSSE), more precisely the detection of persons wearing protective equipment.
To support the development of other markets, the three co-founders of SecurifAI want to get in the next three years a Series A investment – the amount of money is estimated to be around EUR 1 million.
“We believe that by the end of 2023 we can reach a value of around EUR 15 million. It is a figure that we estimate given the evolution of the market, the number of customers and the income we hope to reach in the next three years. We want to have revenues of approximately EUR 1 million by the end of 2023 so that we can also support our global expansion,” states Andrei Gogan, co-founder of SecurifAI.
The company will close the year 2020 with revenues of approximately EUR 150,000, and for next year the management estimates EUR 250-300,000.