Perth-based tech firm icetana (ASX: ICE) is set to fortify its global presence after raising over $2m in capital, driven by demand for its pioneering AI video analytics software.
The team of 17 highly specialised staff based in Perth are ready to leverage their product’s success; currently monitoring 15,000 cameras in 14 countries including Australia, the United States and the Middle East.
Commenting on the recent influx of capital, icetana CEO, Kevin Brown, said it’s a clear expression of support in their product and ability to deliver at increasing scale.
“This $2.3million of fresh capital not only bolsters our sales and marketing efforts but also serves as a significant vote of confidence from our largest shareholders, who doubled down on their existing investments.
In particular Lance East Group, founded by Laurence Escalante, have more than doubled their stake in icetana, and strategic partner Macnica Inc who now become our largest shareholder with close to a 20% stake.
We’ve already experienced encouraging signs of demand for the new product and it is an incredibly strong endorsement of both the product and our go-to-market strategy that our largest shareholders have agreed to support this new capital raise.”
Currently, icetana's innovative technology is being used in schools, universities, shopping malls and casinos across Australia.
What is icetana?
icetana’s revolutionary AI software uses machine learning to identify unusual and potentially dangerous events captured on CCTV. From late-night access activities to vandalism, from the formation of abnormal crowds to fall detection, intruder monitoring and fire detection, icetana's advanced system offers a comprehensive approach to ensuring security without compromising individual privacy.
With a significant portion of the world's billion-plus surveillance cameras operating without real-time monitoring, icetana bridges the gap by providing security personnel with instant access to live footage of unusual occurrences, enabling immediate responses and pre-emptive threat mitigation across camera networks.
Notably, icetana operates without bias and refrains from collecting personally identifiable information, steering clear of facial recognition technology while upholding the highest standards of safety and security.
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