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London AI startup Fyma snaps $2.1M to turn existing cameras into sensors

Fyma founders
Picture credits: Fyma

London-headquartered Fyma, an AI startup that analyses real-time video feeds, has snapped a $2.1 million funding round. The investment round was led by Quadri Ventures alongside Second Century Ventures. 

Fyma intends to use the investment to fuel its go-to-market strategy and spearhead further product development through a dedicated research and development programme. It plans to use the investment to train the company’s AI tools and enhance its go-to-market strategy for the facilities management and real estate sectors.

Turns security cameras into sensors

Fyma was founded in 2019 by Karen Burns and Taavi Tammiste and has offices in London, New York and Tallinn. Its software is designed to be universally compatible, seamlessly integrating with any IP camera worldwide. It harnesses the capabilities of AI and computer vision to deliver comprehensive real-time video feed analysis. 

Through the software, commercial real estate developers, asset owners, and managers are provided with detailed insights into how they approach property management through a range of applications covering monitoring and occupancy analysis to precise footfall tracking and efficient parking management, and providing data for tenant experience apps.

It provides bespoke solutions to customers ranging from individual office buildings to expansive retail sites and large mixed-use developments. The AI technology can also be used to measure modal share and has both indoor and outdoor capabilities to allow for a comprehensive view of all real estate assets.

Environment-friendly solution 

The Fyma software is designed to be compatible with existing camera networks to reduce the need for additional hardware, thereby reducing the need for costly infrastructure upgrades while aligning with the company’s mission to reduce the carbon footprint associated with widely used sensor systems. The data can also integrate with ESG dashboards.

Karen Burns, CEO of Fyma, said: “It is a really exciting time for Fyma, and we are delighted to have secured the support of Quadri Ventures, SCV and VeUP to continue our growth journey. Our innovative AI solution saves enormous amounts of time and money for our customers and armed with this investment, technological support and the fantastic strategic network of SCV, we will continue to develop our solutions to deliver valuable, market-leading software for our global client base.”

Andrew Drylie, Investment Manager at Quadi Ventures, said: “Fyma is working at the cutting edge of AI automation to seamlessly deliver new insights for property groups and real estate companies around the globe. Their laser-like focus on ease of deployment and scalability coupled with a simple end-user experience is what we feel separates Fyma apart from legacy solutions across this space. We are excited to partner with Fyma and feel confident Quadri’s comprehensive go-to-market support, corporate connections and deep cloud expertise will help propel Fyma rapidly toward the next stage of their evolution.”

“We are thrilled to back, a trailblazer in transforming visual data into actionable insights. Their innovative AI-driven approach is set to redefine data analytics across multiple real estate segments and geographies, aligning perfectly with our ethos of supporting ventures at the forefront of technological evolution,” commented Dave Garland, Managing Partner at Second Century Ventures. 

“The company has been part of our US Commercial programme in 2023 and we have been very impressed both with their technology and the team behind Fyma. Their vision and technology are poised to drive significant change and deliver exceptional value to clients. We believe in their potential to revolutionise the industry and are excited to be part of the journey,” added Tyler Thompson, Managing Partner at Second Century Ventures. 

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