Intellio, a European-based manufacturer of intelligent video solutions, announced Thursday that they have secured $750,000 in funding from Primus Capital, along with another American venture capital firm and a private investor.
According to a statement issued by the company, the money will be used to finance international expansion, help boost product development and increase manufacturing capacities.
"We managed to achieve a breakthrough in domestic and international markets primarily in the field of traffic surveillance, intruder detection and property defense," Intellio CEO Janos Kophazi said in the statement. "The new round of investment will enable us to boost our development activities, further improve the VCA functionality of our cameras and expand our product portfolio, while continuing to serve our customers with the same commitment to high standards as in the past."
