Scyron’s CCTV device gains backing
The intelligent security company gains further funding from the West Mercia Technology Fund
A company which is revolutionising the way surveillance camera footage is analysed has received approximately £700,000 of investment in order to expand internationally.
Scyron spun-out from the University of Birmingham in 2002 after developing technology that massively reduces the time it takes to review CCTV recordings.
Its patented algorithms can review a 24-hour tape in just one hour. Other technologies on the market render material inadmissible for court use, which means the company has no real rivals.
Scyron is now trading with UK police forces and has attracted demand from intelligence and security forces around the world, including the FBI.
It was initially backed by the Mercia Technology Seed Fund (MTSF) early in 2002. The latest round, which includes investment from MTSF and communications company Datasat, means that Scyron is now developing into a fully-fledged security services company.
Chief executive Mike Wilks joined the business earlier this year, he said: “The company has been involved in very serious R&D for the last five years.
“When I joined it was still a product company but it has now been transformed into a solutions business. We hope to make a turnover of £1.5m to £2m next year.”
The investment will be used for further R&D, possible IP acquisitions and for the recruitment of sales and marketing staff who will help the company roll-out internationally.
Phil Emmel, managing director of Datasat added: “Scyron’s intelligent security and surveillance solutions represent a rare jewel of truly brilliant UK technological innovation.
“Datasat is excited about its investment which – together with the other investors – endorses Scyron’s strategic plan of becoming a world leader in intelligent security and surveillance technology.”
© Crimson Business Ltd. 2007