Indivd to raise SEK 3.5 million from angel investors from Sweden.

Indivd, a Sundsvall, Sweden-based SAAS developer of a video-based recognition tool, raised a new capital funding round closed at SEK 3.5 million ($400k).

The money was raised from local angel investors from Sweden, including Errol Koolmeister and Amelie Barnekow Söderberg.

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.

Indivd previously raised $1 million from Martin Roos and including Norrlandsfonden in 2021.