Swedish artificial intelligence startup Imagimob has raised up to SEK 8 million (over $930,000) in funding. Stockholm Business Angels led the round.
Stockholm-based AI startup Imagimob has secured up to SEK 8 million in equity and debt in a founding round led by Stockholm Business Angels (Stoaf). The company will use the funds to accelerate R&D, expand international sales activities and to strengthen the company’s IP portfolio.
Imagimob have invented and developed SensorBeat, a patented AI technology that allows for advanced motion recognition on small, low-cost and low-power IoT hardware devices. The technology can potentially be used in an almost unlimited number of applications in a range of different vertical segments.
Imagimob has currently 10+ customers, many of them large, international companies.
“Imagimob is a company with leading edge technology and strong customer traction in a very interesting segment of the market,” says Fredrik Runnquist, General Partner at Stockholm Business Angels. “Although Imagimob is still a small company, we believe that the opportunity and business potential for Imagimob is very big.”
“The capital raised will give us the possibility to continue to develop the company and to be able to innovate together with our customers,” said Anders Hardebring, CEO and Co-Founder at Imagimob.
Imagimob has expert competence in sensor technology and artificial intelligence and has invented and developed SensorBeat. SensorBeat is patented technology and a registered trademark in the EU. The company is headquarted in Stockholm, Sweden.