Promiseq announces financing round

The security start-up offers an AI system to eliminate false alarms. Among others, APX is now getting in on the seed round.

Security technology startup Promiseq has announced a pre-seed funding round. The company had already raised the capital at the beginning of the year, but only communicated the deal now. The money comes from Axel Springer-Porsche vehicle APX and various business angels, including former Securitas CTO René Helbig.

Promiseq has developed Threat Detect, a hybrid AI system that filters out false alarms in security networks. The system can eliminate 95 percent of all false alarms in video surveillance, the company says. This enables massive cost reductions, it said.

"We offer an innovative answer to this problem and can thus reduce our customers' incurred costs for security solutions by up to 80 percent," says Promiseq CEO Tolga Ermis. He co-founded the start-up with current CTO Elias Kardel. Ermis and Kardel had gotten to know each other through their joint work for Volkswagen subsidiary Hella Aglaia. They presented their idea earlier this year at the South by Southwest Festival in Austin, Texas.