Estonian motion analytic startup Fyma raised $2.1M
Estonian platform Fyma, which analyzes real-time video feeds, raised $2.1M. The lead investor was London-based Quadri Ventures. Chicago-based investment firm Second Century Ventures also participated.
Launched in Tallinn in 2019 by Karen Burns and Taavi Tammiste, Fyma is an urban analytics startup, which specializes in using AI computer vision technology to retrieve anonymized data from video feeds. The software can be used by commercial real estate developers, asset owners, and managers. It enhances property management, improves the customer experience, and maximizes sales and revenue through monitoring, occupancy analysis, footfall tracking, and parking management.
Fyma'ssoftware can be integrated with any IP camera globally. For instance, the retail solution tracks customer traffic, movement patterns, and demographics. As a result, retailers and shopping center operators can optimize store layouts, product placement, and marketing strategies. The mobility data solution collects and analyzes data on traffic volume, speed, and patterns. As a result, the data will be used to improve road and access networks and public safety and reduce overcrowding roads.
Fyma will use the investment to advance product development. The company also plans to bolster integrations with LLM (Large Language Models) providers and use generative AI tools for quicker object detection learning.
In December 2022, the startup received €100K from EIT Urban Mobility, which is the initiative of the European Institute of Innovation and Technology (EIT).
