ModCam, the digital image recognition startup, has announced a € 1.4 million investment round. The investment comes from Spintop Ventures and Anders Laurin, former VP at Axis Communications.
ModCam has had a strong year so far. Their product got great reception when released at the MWC in Barcelona in March, they recently added Vestas CEO Bert Nordberg and business angel Johan Lenander on the board. And now a round of investment has been closed, quicker then previously announced.
Finn Persson, partner at Spintop Ventures, talked to 8till5 about it:
“The management and early investors at ModCam are impressive and have experience from the best companies in their fields. We are happy to become a part of this company.”
8till5 also reports that with the investment Johan Lenander will take the role as chairman in the startup. Johan has a past as chairman at TAT, and was also CEO at Aspiro in 2005-2007.
