Estonian AI startup Fyma has closed a new $2.1 million round. Led by Quadri Ventures and Second Century Ventures, this brings Fyma’s total funding to $3.9M.
Fyma is known for its software that combines AI and computer vision, offering real-time analysis of video feeds. Their patented solutions are used by commercial real estate developers, asset owners, and managers in diverse tasks ranging from occupancy analysis to footfall tracking, ensuring efficient property management and enhancing tenant experiences.
A standout feature of Fyma’s technology is its universal compatibility with IP cameras globally, eliminating the need for extensive hardware upgrades. Another groundbreaking point is the team’s commitment to privacy.
“It is a really exciting time for Fyma, and we are delighted to have secured the support of Quadri Ventures, SCV, and VeUP to continue our growth journey,” says Karen Burns, CEO of Fyma. The company, which began its journey with a project for the Tallinn City Council, now has offices in London and New York, powering video analytics for businesses of all sizes.
Fyma’s investment will fuel a strategic go-to-market strategy and speed up further product development, including enhancing integrations with LLM providers and utilizing generative AI tools to enable faster object detection.
Andrew Drylie, Investment Manager at Quadri Ventures, praised Fyma’s innovative approach, “Fyma is working at the cutting edge of AI automation to seamlessly deliver new insights for property groups and real estate companies around the globe.”
With this success, it’s safe to say that the Estonian AI property management sector is now on the rise. A wave of startups is transforming how real estate operates globally. For example, another Tallinn-born company, R8tech, simplifies building management by integrating AI into existing systems to save energy and achieve desired climate comfort at minimal cost. Another Estonian startup, Bisly, recently raised €3.6M to transform conventional buildings into energy-efficient intelligent buildings through the help of automation.