icetana raises $2.3M from investors

Kevin Brown and Laurence Escalante
Kevin Brown (left) with Laurence Escalante, when they both worked at VGW.

Perth-based ASX-listed (‘ICE’) firm icetana has raised $2.3M, with VGW founder Laurence Escalante more than doubling his stake in the company.

With a staff of 17 in Perth, icetana’s AI video analytics software currently monitors 15,000 cameras in 14 countries including Australia, the United States and the Middle East.

Using machine learning, unusual and potentially dangerous events are captured on CCTV. From late-night access activities to vandalism, from the formation of abnormal crowds to fall detection, intruder monitoring and fire detection, icetana’s systems offer a “comprehensive approach to ensuring security without compromising individual privacy”, says the company.

How many movies have you seen where intruders easily evade security guards falling asleep over the TV screens they are supposed to be monitoring?

With a significant portion of the world’s billion-plus surveillance cameras operating without real-time monitoring – not even sleepy guards – icetana looks to bridge the gap by providing security personnel with instant access to live footage of unusual occurrences, enabling immediate responses and pre-emptive threat mitigation across camera networks.

Laurence ups his stake

CEO Kevin Brown said this raise was a clear expression of support in their product and ability to deliver at increasing scale.

This $2.3 million of fresh capital not only bolsters our sales and marketing efforts but also serves as a significant vote of confidence from our largest shareholders, who doubled down on their existing investments.
In particular Lance East Group, founded by Laurence Escalante, have more than doubled their stake in icetana, and strategic partner Macnica Inc who now become our largest shareholder with close to a 20% stake.

Kevin Brown, CEO, icetana

“We’ve already experienced encouraging signs of demand for the new product and it is an incredibly strong endorsement of both the product and our go-to-market strategy that our largest shareholders have agreed to support this new capital raise.”

Kevin used to work at VGW, before joining icetana as COO, and now CEO.