promiseQ closes seven-figure seed financing round

promiseQ, specializing in AI-based video surveillance, closes a financing round led by ExtraVallis and APY Ventures to drive growth and product development.

Berlin, February 20, 2024 - Berlin-based startup promiseQ has successfully closed a seven-figure seed funding round led by ExtraVallis and APY Ventures. Founded in 2021, the company, which specializes in AI-based video surveillance, plans to use the funds to expand its product and service offering and continue its growth to date.

I am incredibly proud of the journey we have already made to contribute to the future of security technology.

Elias Kardel, Co-Founder and CTO promiseQ

promiseQ uses artificial intelligence (AI), edge software and human review analytics to improve the management of video surveillance systems. The company's video intelligence platform enables security companies to eliminate up to 95% of false alarms while reducing costs and increasing operational efficiency. The company already works with well-known partners such as HIKVISION, Sitasys AG, INSOCAM, AJAX, LISA (from Dr. Pfau Fernwirktechnik GmbH) and Security Robotics.

Expansion of the product range

The latest seed financing round underlines the confidence of investors in promiseQ's approach. The funds will be used to expand the product range and drive the company's growth. Following a six-figure pre-seed investment round in summer 2022, the seven-figure financing round demonstrates the continued interest and support of investors.

Thanks to the seed funding round, we will soon be launching a new and innovative software technology in the form of our promiseQube

Tolga Ermis, Co-Founder and CEO promiseQ

Tolga Ermis, Co-Founder and CEO of promiseQ, is excited about the funding and announces the launch of the "promiseQube", a new software technology designed to provide a higher level of security and surveillance accuracy through computer vision and generative AI.

promiseQ's video intelligence platform offers features such as "Device Tree" to facilitate multi-site management, "Smart Alarm List" for instant notifications of suspicious activity, "Privacy Zone Control" to set protection parameters and "Reference Picture Configuration" to improve security through real-time comparisons.

The promiseQ product, the Threat Filter, relies on hybrid AI to eliminate false alarms. In pilot projects prior to market launch, the system achieved a success rate of 95% in differentiating between false alarms and genuine threats. This product is already being used successfully in the security industry by companies such as International Security Group and WSD Permanent Security.

With the support of ExtraVallis and APY Ventures, promiseQ believes it is well positioned to continue developing and implementing innovative solutions for the security industry. The exact amount of the round was not disclosed.