IC Real Tech Secures $15M Financing to Fund Security Camera Development
IC Real Tech says its 720 and ALLie 360x360 cameras are the result of years of development. Together with its app, users can utilize their smartphones, tablets, and other devices to view a fully immersive visual experience, as if they were there standing in the location in real-time.
IC Real Tech, Inc., a manufacturer of video hardware and software solutions for enterprise and consumer applications, announced it has closed a $15 million funding round. The financing will further the marketing and development of the company’s 360x360 degree video cameras that, together with its app, delivers an immersive viewing experience.
The company has been a leading developer of video surveillance and security products, and it has been working for years with such global technology leaders as Verizon, Qualcomm and Motorola Solutions, among others.
“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,” says 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.”
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The financing represents significant strategic expansion for IC Real Tech. The company’s fully-spherical 360x360 technology brings a new approach to the professional security channel, and it also makes it possible for the company to delve into consumer markets, where a portable version of the camera is set for both in-home video monitoring or the mobile creation and sharing of immersive 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 ISC West.
The funding was arranged by the private placement group of Raymond James.
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Bob is an audio enthusiast who has written about consumer electronics for various publications within Massachusetts before joining the staff of CE Pro in 2000. Bob is THX Level I certified, and he's also taken classes from the Imaging Science Foundation (ISF) and Home Acoustics Alliance (HAA). Bob also serves as the technology editor for CE Pro's sister publication Commercial Integrator. In addition, he's studied guitar and music theory at Sarrin Music Studios in Wakefield, Mass., and he also studies Kyokushin karate at 5 Dragons in Haverhill, Mass. Have a suggestion or a topic you want to read more about? Email Robert at firstname.lastname@example.org
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