Led by Vela Founder, Smartvid.io Gets $3.4M to Manage Industrial Video
Smartvid.io, based in Cambridge, MA, has raised $3.4 million in seed funding led by Converge Venture Partners (fka CommonAngels Ventures). Launchpad Venture Group and other angel investors also participated in the round.
The company makes software that helps businesses manage and analyze photos and videos from smartphones, GoPro cameras, and even drones. It has five initial customers, including Suffolk Construction, and is looking to launch wider beta trials this fall. Construction companies, for example, can use the software to manage video data from project sites and conduct inspections. They can also use the technology to share information with their customers and partners.