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| Image Metrics collects £550k | |
Image Metrics, a provider of state-of-the-art image understanding technology, has raised £550,000 in interim venture capital funding. The cash, committed by Axiomlab and Acorn Capital, comes in advance of Image Metrics’ main funding round of £3m scheduled to close by the end of the month. The company claims to be the world’s first image understanding business with technology that automates the analysis and interpretation of images and video. Formed in November 2000 by a team of PhD scientists, Image Metrics serves the medical, security and animation sectors. It recently completed its first major biometric security deal with Westbury Technologies, the IT security division of “Given the current poor market sentiment towards technology stocks, particularly in the private equity market, we feel that this interim round is a strong endorsement of our technology, people and our potential to win significant share of fast growing global markets,” says Image Metrics CEO David Pilgrim. The company recently appointed Steven Edwards as a non-executive director. Edwards founded and led the sale of Geneva Technology to Convergys Corporation in April 2001 for $692m. |
