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News

Funding secured for mobile phone CCTV interaction.

Intellistream : 11 April, 2008  (Company News)
Further development for the technology of interacting with CCTV surveillance systems using mobile phones is now possible after Intellistream secures further development funding
London Technology Fund (LTF), London's specialist investor in new technology companies, has just announced the first close of an up to £1m further funding round for Intellistream, a developer of technology for interactive mobile video applications. The funding underlines the LTF's confidence in Intellistream's product offering.

The money will enable Intellistream to further develop its offerings for its initial target market in the security sector which is projected to be worth $3bn by 2010. Intellistream's security platform gives customers the ability to remotely access and control security/CCTV cameras on the move from their mobile phones and other devices. The system provides significant advantages over alternative approaches being easy to use, readily scaleable and delivering high resolution quality and reliability.

Commenting on the fundraising, Jim Beagle, CEO of Intellistream said "We have now demonstrated the attraction of our products in the security market and have successfully secured our first significant contract. The funding will help us accelerate the further commercial roll-out of the technology." Jani Peltonen, Founder and Chief Technology Officer added "The London Technology Fund's continuing support has helped us reach this point and this further round of investment will enable us to build on our success in this exciting market for mobile telephony."

David McMeekin, Chairman of the London Technology Fund, said "We are delighted to continue our support for this exciting young company as it moves on to its next stage of development, meeting the demand for its products from the security industry."

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