The company will use the funds to accelerate R&D, expand international sales activities and to strengthen the company's IP portfolio
Stockholm - sept 02, 2016. RedNewswire/-
Sweden-based AI startup Imagimob, has raised up to $935K in equity and debt funding in a Series A funding round led by Stockholm Business Angels (Stoaf).
Imagimob has developed Sensorbeat product to learn about motion by using the sensor data from wearables or other devices. Sensorbeat is a software package using sensor technology to identify new motions and gestures.
Imagimob has currently 10+ customers, many of them large, international companies. The technology can be used in unlimited number of applications in a range of different vertical segments.
"Imagimob is a company with leading edge technology and strong customer traction in a very interesting segment of the market. Although Imagimob is a small company, we believe that the opportunity and business potential for Imagimob is very big" said Fredrik Runnquist, General Partner at Stockholm Business Angels.
CEO and Co-Founder at Imagimob Anders Hardebring said "The capital raised will give us the possibility to continue to develop the company and to be able to innovate together with our customers.