Visual intelligence platform TRACE Live Network has secured $2.5 million in seed-stage funding. The round was led by principals of Canadian investment dealer Salman Partners and was joined by private investors in the network of Business Instincts Group, which created the company. Based in Venice, California and Calgary, Alberta, TRACE is the developer of TRACEr1, a visually intelligent camera that facilitates video capture and live streaming. The startup’s founders include CEO Cameron Chell and CTO Paul Beard. TRACEr1 is expected to see retail availability in late 2015. A Canadian serial entrepreneur, Cameron Chell has contributed feature articles to peHUB Canada.
Visual Intelligence Startup TRACE Closes Oversubscribed $2.5MM Seed Round to Create Autonomous Following Action Cameras
VENICE, CALIFORNIA – December 16th, 2014 – TRACE Live Network, developer of The TRACEr1 – a visually intelligent camera capable of following its owner almost anywhere and live-streaming captured footage to the web – announced today, the close of its oversubscribed seed round with a raise of $2.5 million.
The round was led by the principles of Salman Partners with participation coming from various private sources within the Business Instincts Group Network.
Using proprietary video-as-a-sensor technology, The TRACEr1 has been designed to self-operate a series of motorized vehicles which will follow users into action and capture video which can then be seamlessly live-streamed to the web from a smartphone via the TRACE App.
The TRACEr1 represents an entirely new product category; an intelligent camera, able to “click-in” and “click-out” of, and control, several accessory vehicles designed to suit every user environment. Once required imaging and streaming preferences have been selected within the TRACE app, all vehicles will carry out autonomous video capture and live streaming.
Vehicles in development include; the FLYr1 quad copter designed for aerial video capture, DRIVEr ATV for ground-based capture and the FOLLOWr Gimbal Tripod.
The Founders behind the TRACE Live Network include; Cameron Chell, serial entrepreneur and co-founder of several notable technology startups including, Slyce and UrtheCast, and Paul Beard, celebrated inventor responsible for the original creation of the DVR and Internet Radio.
Mr. Chell said “The success of companies like GoPro has proven without doubt the desire by people to record their own great adventures. With TRACE, we’re aiming to ensure they are a part of these epic moments, rather than just the one filming them.“
TRACE Live Network will be officially launched in January at the 2015 Consumer Electronics Show (CES) in Las Vegas and the TRACEr1 is expected to see retail availability in Q4 2015.
TRACE Live Network is a venture created by the Business Instincts Group (BIG).
About TRACE Live Network
TRACE.com is a live-action content platform aggregating streamed footage from globally activated TRACEr1 devices. The TRACEr1 is a visually intelligent camera that autonomously operates a selection of tracking devices and live-streams captured user footage directly to the Internet.
TRACEr1 enabled devices allow people to be ‘in’ their greatest moments and have those moments captured and shared.
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