Estonia’s AI video analysis startup Fyma secures $2.1M to propel real estate solutions

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Tallinn-based startup Fyma, specializing in real-time video analysis, secured $2.1 million in funding led by Quadri Ventures and Second Century Ventures. The company’s software, compatible with any IP camera globally, utilizes AI and computer vision to provide insights for commercial real estate, enabling property monitoring, occupancy analysis, footfall tracking, and parking management, catering to tenant experience applications. The funding will primarily bolster Fyma’s go-to-market strategy, advance product development through dedicated R&D, strengthen integrations with LLM providers, and facilitate quicker object detection learning using generative AI tools.

Founded by CEO Karen Burns and CTO Taavi Tammiste, Fyma specializes in developing software that utilizes artificial intelligence (AI) and computer vision for real-time analysis of video feeds from IP cameras. Their technology aims to provide comprehensive insights and solutions for commercial real estate applications, including property management, occupancy analysis, footfall tracking, parking management, and tenant experience enhancement. The company’s focus is on leveraging AI-driven analysis to improve decision-making processes and efficiency within the real estate industry.

Karen Burns, CEO of Fyma, expressed her enthusiasm: “Fyma is at a thrilling juncture, and we are overjoyed to have obtained backing from Quadri Ventures, SCV, and VeUP to further our expansion. With this investment, technological support, and SCV’s strategic network, we aim to refine our solutions and offer superior, market-leading software to our international clientele.”

Andrew Drylie, Investment Manager at Quadri Ventures, remarked: “Fyma stands at the forefront of AI automation, delivering fresh insights to global property and real estate firms. Their commitment to deployment simplicity and scalability, along with a user-friendly interface, distinguishes Fyma from traditional offerings. We are eager to support Fyma’s growth with Quadri’s extensive market support and cloud expertise.”

Dave Garland, Managing Partner at Second Century Ventures, commented on their support for Fyma: “We are thrilled to back Fyma, a pioneer in converting visual data into actionable insights. Their AI-centric approach is poised to redefine data analytics in real estate, resonating with our commitment to technologically advanced enterprises.”

“The company has impressed us with their technology and team during our US Commercial programme in 2023. Their vision and technology stand to enact considerable change and deliver outstanding value to clients. We are confident in their potential to transform the industry and are excited to accompany them on this path,” Tyler Thompson, Managing Partner at Second Century Ventures, added.

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