Robert Bosch Venture Capital of Germany invests in Swedish company Modcam

Content

14 September 2015

Swedish company Modcam continues to attract new investors with its unique video analytics solution. Robert Bosch Venture Capital GmbH (RBVC) has completed an investment in the company who will now launch its first commercial solution to the market.

Modcam’s intelligent vision solution collects and analyzes rich visual information in real-time with a smart visual sensor. The data is then processed with powerful analytics software in the sensor device itself. The solution provides a high level of security and privacy, unlike competing systems which usually stream unprocessed and non-encrypted video for central processing.

The initial application area is to make detailed analysis of movement patterns in retail and office environments. The data analysis generates easily accessible graphical results in real time, which can be used to optimize space usage based on actual utilization. The solution is truly plug-and-play and it takes only 10 minutes to install a system which subsequently can easily be further expanded and continuously upgraded with new application features.

Bogdan Tudosoiu, Modcam CTO, sees the potential to improve operations in many different industries: "Since we have based our solution on an open platform, we can also let third party developers create their own applications."

Hongquang Jiang, investment principal of Robert Bosch Venture Capital GmbH, is convinced about the strong potential of the open platform approach: “We believe that Modcam’s visual sensor systems with decentralized intelligence offer huge opportunities for new markets in the future.”

Modcam is already delivering its first commercial installations in retail, office and hotel environments. The company has also started online sales of its smart visual sensors to app-developers.

About Modcam

Modcam has developed a unique software solution integrated into a smart visual sensor for video analytics. The solution is based on standard smartphone technology and with an open platform the company can provide not only their own applications, but create an ecosytem of different partners.

The company was founded in late 2013 by Jan Erik Solem, Bogdan Tudosoiu, Tord Wingren and Karl-Anders Johansson. In one year it has grown from 4 to 10 employees and has built its team with strong competences with background from Sony Mobile, Ericsson and former TAT/Blackberry. Earlier this year, the company raised 1,5 MUSD with investors including Spintop Ventures, Johan Lenander, Bert Nordberg and Anders Laurin.

About Robert Bosch Venture Capital GmbH (RBVC)

Robert Bosch Venture Capital GmbH (RBVC) is the corporate venture capital company of the Bosch Group, a leading global supplier of technology and services. RBVC invests worldwide in innovative start-up companies at all stages of their development. Its investment activities focus on technology companies working in areas of business of current and future relevance for Bosch, above all, automation and electrification, energy efficiency, enabling technologies, and healthcare systems. RBVC also invests in services and business models as well as new materials that are relevant to the above-mentioned areas of business.

For further information:

Mr. Andreas Nordgren

CEO

Tel: +46705742055

Email: andreas@modcam.com