NETANYA, Israel Infinity Equity Capital has led a $6 million VC round in Mate Intelligent Video. In addition to Infinity's $3.2 million, other investors in the round included I-CSVC, Infinity's Chinese partner, as well as existing Mate backers such as The Peleg Group.
This marks the first investment by Infinity's new Infinity Israel-China Fund.
Mate develops and sells intelligent video surveillance equipment, content analysis and transmission gear as well as management products for security, safety and retail applications.
The security and safety products give real-time alerts based on information captured from security and safety cameras. The retail products provide data regarding consumer behavior.
According to Mate, security guards cannot monitor many video cameras and stay vigilant. Mate (Yehud, Israel) says it resolves this problem by placing smart devices near the video cameras. These devices analyze video content on the spot and decide whether an event merits attention or not.
The company was founded in 1997 by computer vision scientists and software engineers. It is headquartered in Yehud, with a subsidiary (MATE Inc.) in Virginia, U.S.
Mate says it signed a contract with one of China's leading IT providers, which will be named shortly. According to the agreement, the Chinese company will license Mate's technology for use in China, adapt it to the needs of the Chinese market and market it locally.
Infinity also announced its intention to invest $3 million in the Chinese company.
Infinity Israel-China will invest in Israeli companies with license-based proprietary technologies. It will also invest in companies that license these technologies and then produce or market products, based on these technologies, in China under their own brand name.
According to Avishai Silvershatz, managing partner in Infinity: "The Israeli companies bring innovation and technological know-how. The Chinese bring stellar execution and marketing experience. The combination is very beneficial for all involved."