Indivd in a SEK 8 million deal led by Stockholm-based investor Martin Roos

Indivd, a Sundsvall, Sweden-based SAAS developer of a video-based recognition tool, announced completing a SEK 8M ($950k) capital investment round.

The money was raised from local backers from Sweden, led by Stockholm-based investor Martin Roos and including Norrlandsfonden.

The new invested capital will be used for the continued development of our insight platform for physical trading and is budgeted to last for about a year, after which the company will look to raise more.

Indivd, founded in 2017 Andreas Hjorth, Victor Molen (CEO), Fredrik Amréus Hammargården, and Carl and Leonard Johard, developed an AI-based technology which uses cameras to identify and re-identify everybody without processing biometric data or storing personal data. Indivd is currently running a first test pilot in Best of Brand's store premises at Sicka Sjökvarter outside Stockholm.