AxonX gets on the A-list
BALTIMORE, Md.-AxonX, a start-up company that develops fire detection hardware and software, secured $2 million in funding from Johnson Controls earlier this month.
The funding will propel AxonX further into the marketplace. AxonX's technology will fuse with that of Johnson Controls. For a year, the company will license its software to Johnson Controls while retaining the right to sell its hardware to other customers, said Mac Mottley, chief executive officer at AxonX.
Johnson Controls said that the investment positions the company to provide new analytics tools to the industry.
With the funding, AxonX plans to add four more employees in the first quarter, focus on additional product development and secure approvals from Underwriters Laboratories in the fire safety and detection devices arena.
As a start-up company, founded in 2002, it was understood that "one of the things we had to do is find a strategic partner," Mottley said. "Johnson Controls is a large fire safety integrator, which fits with what we are doing."
Video analytics has gained speed in the market, "but one of the things we feel is the real value is fire detection," Mottley added. "Fire is not smart; it just gets bigger. Analytics provides early warning fire detection."
The company's signature product, SigniFire, developed by owner George Privalov from Russia, applies four algorithms that detect fire. The system analyzes live video images through security surveillance cameras.
AxonX is on its way to target the fire detection market with an emphasis on large volume structures, such as warehouses. Already the company has five pilot launches in commercial sectors dotted throughout North America.
See Security Systems News' February issue for more on AxonX's technology and its recent funding.