London-based Crowd Vision has received an undisclosed investment from a group of angel backers including FSE’s Investor Network and the Angel CoFund.
Created using a grant from the Regional Growth Fund in November 2011, the Angel CoFund invests alongside business angel syndicates from across England.
The investment vehicle made its first commitments in May when five businesses received a total of £7.2 million.
Its new investment, Crowd Vision, provides software which ‘extracts crowd insights’ from video feeds in busy locations. The business says that this enables clients to understand the crowds which it is orchestrating.
Its software has been used in Mecca where it is said to have helped keep millions of pilgrims safe whilst they attended the Hajj.
Fiona Sterns, CEO of Crowd Vision, comments, ‘Crowding is a global phenomenon of our time. Whether struggling through commuter crowds or soaking up a festival atmosphere, we all experience crowding in everyday life.
‘We were delighted that funding offers exceeded our target, as this investment provides us with the means to execute aggressively to address increasing demand.’
The FSE Group has a network of 400 business angels looking to invest a minimum of £25,000 in each opportunity.
Kevan Jones, CEO of the FSE Group, ‘The FSE Investor Network and our female-positive network Incito Ventures helped Crowd Vision to forma clear and well organised funding strategy in order to become ‘deal ready’.
‘One of our experienced business angels from Incito took the lead in the round and successfully completed the application process with the Angel CoFund, which is the first deal we have completed with them.’