Kinesense And IBM Share In €6.4m Fund

25 Jan 2016 | 11.15 am

Kinesense And IBM Share In €6.4m Fund

Funding secured from the EU to research green cloud tech

25 Jan 2016 | 11.15 am

Dublin-based video analytics company Kinesense and IBM Research Ireland have secured €6.4m in EU funding to investigate greener applications of cloud computing.

The firms secured the funding from the Horizon 2020 programme through their participation in dRedBox, a pan-European consortium whose members include Telefonica, Virtual Open Systems from France and several universities.

The funding is for a three-year project that will develop a new type of cloud computing server that it is hoped will lead to faster processing, better resource allocation and overall lower costs.

The new dRedBox design aims to speed up memory access using fibre-optic connections, while lowering electric power consumption by up to 20%.

Kinesense CTO Dr Mark Sugrue said that his firm is delighted to be part of shaping the future of the cloud.

“Our role is to develop our video investigation solutions on the new dRedBox system and prove its efficiency. What this means for our customers is faster servers and lower running costs. Access to the right information at the right time is paramount for police, especially in today’s world.”

Kinesense develops video evidence management solutions for law enforcement and CCTV solutions for the security market around the world. It specialised in innovative video analytics technology, which enables automatic video review.

The company booked a 2014 loss of €194,000, bringing accumulated losses to over €1m and contributing to a year-end net deficit of €672,000.

Kinesense was founded in 2009 and has proven to be a dab hand at raising funding. Past investment rounds included €620,000 raised in 2012, led by Kernel Capital via the Bank of Ireland Seed and Early Stage Equity Fund. Enterprise Ireland has also backed the firm.

IBM Research Ireland is part of a network of 12 IBM Research labs globally. Its areas of expertise include high-performance data-centric systems and cloud as well as cognitive solutions using big data analytics.

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