Chart Venture Partners
RemoteReality, Developer of Next-Generation Intelligent-Omni-Video Systems, Raises $7.3 Million
Press Release Source: RemoteReality Corp. 12/18/2006
SmartPR
Westborough, Mass., Dec. 18, 2006 – RemoteReality Corp., the designer and manufacturer of intelligent-omni-video systems with real-time viewing and analysis software for continuous 360° surveillance, conferencing and other applications supporting government, commercial and enterprise business markets, has secured $7.3 million in venture financing. The funding round was co-led by Battelle Ventures and Chart Venture Partners.
“With its patented imaging technology integrating hardware and proprietary software, RemoteReality has solved key technical limitations, including those on video quality, and has reduced the high costs associated with systems that are predominantly in use for video surveillance today,” says Battelle Ventures General Partner Ralph Taylor-Smith. “Current intelligent-video systems cannot meet the requirements for persistent situational awareness, protection of critical assets and efficient communication of essential information.“
By integrating high-resolution 360° mirrors, optics, sensors and intelligent processing into unique single-lens, solid-state, high-frame-rate video appliances,” continues Taylor-Smith, “RemoteReality’s systems promise real-time 360° seamless video, with the ability to simultaneously detect and track dozens of objects while an entire area remains under total surveillance, in both visible and infrared thermal spectra.“
"What RemoteReality has developed is not only an important technological and economical development for the homeland security, defense and commercial security markets, but also for the enterprise business markets; for example, in video-conferencing applications,” says Taylor-Smith.
Dr. James Ionson, who became RemoteReality CEO as part of the funding event, adds: “We’re solving many of the shortcomings associated with today’s surveillance products, which are mostly multi-camera systems rooted in dated technology. These systems not only have imaging-quality limitations, but also are more prone to problems because of the number of devices involved and the moving parts within each camera.“
Current systems have high lifecycle costs, resulting from recurring operations, maintenance and replacement expenses, and costly network upgrades are needed to support bandwidth-intensive real-time video,” continues Dr. Ionson, an honored scientist who has successfully operated as an entrepreneur, a high-level corporate executive and a senior defense appointee with top-secret and other national security clearances. “But just one, single-lens, solid-state RemoteReality appliance is needed to provide the highest-resolution, real-time video of an entire area, even in low-bandwidth network environments.”
He explains: “We incorporate precision single or double mirrors with our unique lenses, which interact with the latest intelligent-video sensors. Using mirrors and a lens is superior to using only lenses, which must constantly compensate for light refraction. This is why highly sophisticated telescopes, such as the Hubble Space Telescope, utilize lenses and mirrors rather than lens-only refractor telescopes,” he says, adding, “We could call RemoteReality ‘the Hubble of intelligent omni-imaging.'
To this superior imaging capability we add sensors and proprietary software that provide intelligent object tracking and analysis – while simultaneously managing bandwidth,” continues Dr. Ionson, whose 30-year career includes being head of research for Polaroid and has largely centered on imaging technologies, for which he has authored a number of patents. “The system can continually adjust, sending comprehensive and high-quality imaging data at speeds that adapt to a network’s bandwidth capacity. “
When the 360° cameras are integrated with high-resolution pan-tilt-zoom cameras, they can provide high-resolution interrogation of individual points of interest,” he explains. “Detection, alarm and tracking software can be added to fully automate the camera system, with alerts transmitted to security monitors, operators’ screens, PDAs and other devices when threats are detected in predefined alarm zones. The camera can zoom in on one point of interest while the whole area is still under total surveillance,” he says.
About RemoteReality (http://www.remotereality.com/)
RemoteReality is a development-stage company that has received some $6 million in Small Business Innovation Research grants and development contracts from the Defense Advanced Research Projects Agency, the Office of Naval Research and other Department of Defense groups. Its initial products are the OmniAlert360 perimeter monitoring system, for perimeter surveillance; the OmniAlert360 manned navigation and surveillance systems, for manned vehicle situational awareness; the OmniAlert360 unmanned navigation and surveillance systems, for unmanned or remote vehicle situational awareness; and the ThermalVision360 system, for night-vision applications. These products are being field-tested by top-tier defense and commercial systems integrators and successful demonstrations have been completed in a variety of situations, such as critical infrastructure protection, military-base security, on unmanned aerial vehicles, and on remotely driven ground and surface vehicles. In the government/military arenas, RemoteReality has relationships with systems integrators and other technology companies with complementary add-on products that can be bundled into solutions to solve specific customer needs. In the commercial security segment, RemoteReality is working with OEM camera manufacturers to design and build indoor and outdoor camera systems, which are in early production and operational trials.
About Battelle Ventures (http://www.battelleventures.com/)
Battelle Ventures, L.P., a $150-million venture fund, and its $35-million affiliate fund, Innovation Valley Partners, invest in the early stages of companies in the homeland security, life sciences and energy sectors. The firm enhances and adds value to its portfolio companies by leveraging the technologies and expertise of sole limited partner Battelle Memorial Institute and the National Laboratories it manages or co-manages for the U.S. Department of Energy.
About Chart Venture Partners (http://www.chartventure.com/)
Chart Venture Partners is a venture fund that focuses on the homeland defense and security sectors, and has an exclusive strategic partner agreement with InSitech, Inc., the sole partnership intermediary for the U.S. Army’s Picatinny/Armament Research, Development and Engineering Center.
Names of companies and/or products mentioned herein may be the trademarks of their respective owners.
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