VMS/analytics vendor Aimetis lands $5m in funding
Okay, well, it's $5 million Canadian, which is actually like $10 million U.S. nowadays, right? What's that? It's only $4.84 million U.S.? Huh. I thought our economy had fallen completely apart and the Canadians would soon be our overlords. My bad. When I was in college we could go across the border and turn our dollars into gold bars, so this even-steven thing is taking some getting used to. Anyhoo, here's the release from PeHub:
Covington Capital Corporation (â€Covingtonâ€) is pleased to announce the completion of a CDN$2.5 million investment in Waterloo-based Aimetis Corp. (â€Aimetisâ€, the â€œCompanyâ€) as part of a total financing round of $5 million."Waterloo Sunset" is one of my favorite Kinks songs. Just thought I'd mention that.
Established in 2003, Aimetis (www.aimetis.com) is a provider of network video surveillance technologies designed primarily for the retail and transportation markets. Aimetisâ€™ key differentiator is that they offer an innovative product solution that provides video surveillance software combined with artificial intelligence based video analytics technology.Hmmm. I'm not sure Covington really wants to go with "artificial intelligence" there. Is it really AI? I'm okay with "intelligent video," but artificial intelligence implies thinking computers and Hal 2000 type stuff. And doesn't VideoIQ and a few other companies offer a VMS with analytics built in? What does "differentiator" really mean, anyway?
It is this unique integration of both video-surveillance and analytics technology that allows their clients to receive alerts in real-time as well as review and analyze activity almost immediately. The speed with which Aimetisâ€™ software is able to capture, store, and provide for review of detailed video data is tremendous. The Companyâ€™s technology is extremely valuable to both small and large scale enterprises requiring flexible, efficient, and reliable surveillance systems. The Companyâ€™s client base includes both local enterprises and global leaders such as the City of Oshawa, Loblaws, Munich Airport, Netherland Railways, BMW, and Mercedes.Hmmm. Couple things here. First, I like that the speed is "tremendous." Maybe the PR people got caught up in this past week's NFL combine: "Look at the speed on that VMS! It's tremendous!" Also, are we going to call the City of Oshawa a "global leader"? There's some other stuff about how happy everyone is in the release, but you knew that already. I'll get a call into Aimetis and see what's what and who else is involved in the round.