IC Real Tech Closes $15 Million Investment Round

  • Jun 05, 2015

IC Real Tech, Inc. announced that it has closed a $15 million funding round. The financing will further the marketing and development of the company’s revolutionary 360 x 360 degree video cameras that together with its App, delivers an immersive Virtual Reality viewing experience as if the user is standing in the location in real-time.

The company has been a lead in video surveillance and security product innovation for nearly a decade and has been working for years with such global technology leaders as Verizon, Qualcomm and Motorola Solutions, among others.

The financing represents significant strategic expansion for IC Real Tech. The company’s fully-spherical 360 x 360 technology brings a fresh, new approach to the professional security channel, extending IC Real Tech’s status as a leading innovator. It also makes it possible for the company to delve into consumer markets, where a portable version of the camera is poised for both in-home video monitoring or the mobile creation and sharing of immersive action videos. The technology -- which was conceptualized and contributed to by IC Real Tech shareholder 360 Lab -- has won numerous awards at industry events this past year including ICES and ISC West, and has received critical acclaim in the burgeoning Virtual Reality sector by many media outlets such as TechCrunch, Yahoo Tech, Reuters and many others. The company’s technology has also been endorsed by YouTube for its 360 YouTube initiative.

“The financing will enable us to rapidly ramp-up for the launch of our cameras to the professional and consumer markets within the next few months,” said Lee Munder (founder of Munder Funds), chairman of IC Real Tech, Inc. “Given the overwhelmingly positive customer feedback and numerous industry awards that the technology has received, resellers and retailers are extremely enthusiastic about the new profit opportunities that our products will bring to them.”

The Funding was arranged by the private placement group of Raymond James.

Overview of the Highly-Innovative Cameras

The IC Real Tech 720 and ALLie 360 x 360 cameras feature a dual-megapixel-sensor system and proprietary viewing App that together deliver views spanning from floor-to-ceiling and completely around the camera itself. Using either a Smartphone, tablet, or Virtual Reality headset, the platform provides a fully-immersive viewing experience, as if the user is standing in the location in real-time. Navigation is achieved by panning the display in the desired directions or finger control of the display’s screen. Serving the professional markets, one IC720 camera satisfies fields-of-view that previously required several cameras to achieve. In the consumer markets, the portable version (ALLie) is already considered a leading solution in the Virtual Reality sector for its ability to create and share immersive action videos. The IC720 and ALLie will become available for sale later this year.

Featured

  • Allegion, Comfort Technologies Implement Mobile Credentials at the Artisan Apartment Homes in Florida

    Artisan Apartment Homes, a luxury apartment complex in Dunedin, Florida, recently transitioned from mechanical keys to electronic locks and centralized system software with support from Allegion US, a leading provider of security solutions, technology and services, and Florida-based Comfort Technologies, which specializes in deploying multifamily access control, IoT devices and software management solutions. Read Now

  • Mall of America Deploys AI-Powered Analytics to Enhance Parking Intelligence

    Mall of America®, the largest shopping and entertainment complex in North America, announced an expansion of its ongoing partnership with Axis Communications to deploy cutting-edge car-counting video analytics across more than a dozen locations. With this expansion, Mall of America (MOA) has boosted operational efficiency, improved safety and security, and enabled more informed decision-making around employee scheduling and streamlining transportation for large events. Read Now

  • Security Industry Association Launches New “askSIA” AI Tool

    The Security Industry Association (SIA) has unveiled a brand-new SIA member benefit – askSIA, a conversational AI agent designed to help users get the most out of their SIA membership, easily access SIA resources and find the latest information on SIA’s training and courses, reports and publications, events, certification offerings and more. SIA members can easily find askSIA by visiting the SIA homepage or looking for the askSIA icon in the top left of webpages. Read Now

    • Industry Events

  • Industry Embraces Mobile Access, Biometrics and AI

    A combination of evolving workplace dynamics, technology innovation and new user expectations is changing how people enter and interact with physical spaces. Access control is at the heart of these changes. Combined with biometrics and AI, mobile access control has become increasingly crucial for deploying entry solutions that are seamless, secure and adaptive to user needs. Read Now

  • Sustainable Video Solution Delivered for Landmark City of London Office Development

    An advanced, end-to-end video solution from IDIS, with a focus on reducing waste and costs, has helped a major office development in the City of London align its security with sustainability objectives. Read Now

Most   Popular

New Products

  • Automatic Systems V07

    Automatic Systems V07

    Automatic Systems, an industry-leading manufacturer of pedestrian and vehicle secure entrance control access systems, is pleased to announce the release of its groundbreaking V07 software. The V07 software update is designed specifically to address cybersecurity concerns and will ensure the integrity and confidentiality of Automatic Systems applications. With the new V07 software, updates will be delivered by means of an encrypted file.

  • QCS7230 System-on-Chip (SoC)

    QCS7230 System-on-Chip (SoC)

    The latest Qualcomm® Vision Intelligence Platform offers next-generation smart camera IoT solutions to improve safety and security across enterprises, cities and spaces. The Vision Intelligence Platform was expanded in March 2022 with the introduction of the QCS7230 System-on-Chip (SoC), which delivers superior artificial intelligence (AI) inferencing at the edge.

  • ResponderLink

    ResponderLink

    Shooter Detection Systems (SDS), an Alarm.com company and a global leader in gunshot detection solutions, has introduced ResponderLink, a groundbreaking new 911 notification service for gunshot events. ResponderLink completes the circle from detection to 911 notification to first responder awareness, giving law enforcement enhanced situational intelligence they urgently need to save lives. Integrating SDS’s proven gunshot detection system with Noonlight’s SendPolice platform, ResponderLink is the first solution to automatically deliver real-time gunshot detection data to 911 call centers and first responders. When shots are detected, the 911 dispatching center, also known as the Public Safety Answering Point or PSAP, is contacted based on the gunfire location, enabling faster initiation of life-saving emergency protocols.