GAITHERSBURG, Md., Feb. 17, 2021 /PRNewswire/ -- Edgybees, the leading provider of real-time high precision geo-registration and visual augmentation of aerial video, today announced $9.5 million in Series A Funding, led by Seraphim Capital, with participation from Refinery Ventures, LG Technology Ventures, Kodem Growth Partners, OurCrowd and Verizon Ventures. Existing investors include 8VC, Motorola Solutions Venture Capital and NFX. The investment will be used to drive product innovation, expand global adoption, and support an aggressive hiring strategy.
Defense, public safety, and critical infrastructure command centers depend on critical aerial video to make lifesaving decisions during public safety, rescue, and defense missions. Assembling this information in real-time presents a tremendous advantage when controlling and overcoming dangerous circumstances. However, to date, aerial streamed video referencing and positioning has been inaccurate, often with negative consequences. This is where Edgybees delivers.
Edgybees Visual Intelligence Platform™ provides the industry's only high-accuracy geo-registration and alignment of aerial video in real time. The company's unique approach enables rapid decision-making by visually augmenting roads, key landmarks and other mission-critical data on top of live video feeds, delivered through the Edgybees' platform or by integrating with third-party systems. This operational perspective dramatically reduces time-to-target and enhances team collaboration, situational awareness, and mission effectiveness.
"Our mission is to ensure positive human outcomes during lifesaving missions," stated Adam Kaplan, co-founder and CEO of Edgybees. "Our new partners bring unique industry expertise that optimally positions the company to drive innovation and expand our global footprint. We look forward to our next phase of growth, meeting the crucial demands of defense, public safety, and critical infrastructure operators."
Seraphim Space Fund is the world's first venture fund dedicated to financing the growth of companies operating in the new space ecosystem. Managing Partner and CEO, Mark Boggett, commented, "Edgybees can be described a Google Maps fused with live video footage in real-time. Their geo-referencing capability is a breakthrough technology that brings a new level of insight and usability to video streams from space, drones or bodycams. We are very excited about Edgybees, not only for the innovation it brings to public safety and defense, but because its ability to be utilized in a wide range of industries."
LG Technology Ventures invests in early-stage start-ups in artificial intelligence, mobility, advanced materials, life sciences, next generation display, mobile, and 5G. Managing Director, Michael Falcon, remarked, "Edgybees enables operators to instantly understand live video in terms of geographical context and more. As a leading provider of Smart City networks, platforms and professional services offered by LG Group companies, LG Technology Ventures appreciates the benefits this innovative technology brings to security, surveillance and traffic monitoring."
Refinery Ventures is an investment firm focused on disruptive, early-scale companies. Venture Partner, Stephen Rodriguez, and Managing Partner of One Defense, explained, "The dual-use Edgybees solution is ideal for the commercial risk management and national security markets. Its ability to depict real-time data feeds allows operators, whether they be insurance adjusters or drone pilots, to make accurate, timely decisions. A game-changer that is perfect for our portfolio."
OurCrowd is a global venture investing platform that empowers institutions and individuals to invest and engage in emerging companies. CEO and Israel's most active venture investor, Jon Medved added, "Edgybees solves a huge problem in spatial computing: how do you really know what you are seeing through fast moving airborne or other video feeds? Edgybees brings together the real and virtual worlds and helps first responders save lives, industrial drone users save money, and defense teams get the mission done."
Founded in 2017, Edgybees brings clarity, accuracy, and speed to mission-critical and lifesaving operations that rely on streamed aerial video for situational awareness. Edgybees' solution combines advanced computer vision and machine learning technologies to accurately match aerial video to satellite reference imagery in real-time. This unique approach enables rapid decision-making by visually augmenting roads, key landmarks, and other mission-critical data on top of live video feeds – via our own platform or by integrating with third-party virtual augmentation solutions. With high-precision geo-tagging and near-zero latency, Edgybees makes complex operational environments instantly clear – enabling defense, public safety, and critical infrastructure teams to accomplish lifesaving and high-urgency missions quickly and safely.
For more information, please visit www.edgybees.com.
- Originally published at http://www.edgybees.com February 17, 2021.