Kernel Capital BoI seed fund leads Kinesense investment

Trade

13 September 2012

Kernel Capital, through the Bank of Ireland Seed and Early Stage Equity Fund, has led a €620,000 investment in Kinesense, a video content analysis software specialist.
The syndicated investment comprises of a €500k investment by Kernel Capital with the remainder of the funds provided by BES and Angel investors.

Founded in 2009, the Enterprise Ireland-supported company provides CCTV solutions for the law enforcement and security markets in particular.

Sarah Doyle, CEO, Kinesense said: "Kinesense developed its time saving video search solutions over a number of years of advanced research, testing and deployment with security agencies. We are seeing real traction for our solutions in many markets and this investment from Kernel Capital will enable us to accelerate international growth and expand our solution range to solve the issues surrounding the growing prevalence of CCTV for organisations."

Donal Duffy, head of Enterprise Ireland relations, Bank of Ireland, said: "Bank of Ireland welcomes this investment in Kinesense through the Bank of Ireland Seed and Early Stage Equity Fund managed by Kernel Capital. Kinesense’s intelligent CCTV capabilities allow much of the necessary detection and searching to be done automatically and at low cost both of which are of great importance to the global security market and other market verticals.

TechCentral Reporters

Pictured: Dawn Guiney, Kernel Capital, Michael Moriarty, Enterprise Ireland; Sarah Doyle, Kinesense; Ronnie Feeney, Bank of Ireland.

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