AI startup Fyma raises £1.7m for property management software

Fyma, a London-based startup using AI and computer vision technology to analyse video feeds for property managers, has raised $2.1m (£1.7m).

Founded in 2019, Fyma’s software analyses real time video to provide insights into property management.

The startup said its platform can precisely track footfall, give analysis on space utilisation and occupancy and provide information for more efficient parking management.

Fyma CEO, Karen Burns, said the company’s AI solution “saves enormous amounts of time and money for our customers and armed with this investment, technological support…we will continue to develop our solutions to deliver valuable, market leading software for our global client base”.

The startup was initially founded in Estonia and has established offices in London and New York. Following the latest investment round, the company has structurally shifted, moving its official HQ and primary functions to its UK base.

The funding round was led by Quadri Ventures, a VC fund which supports startups using Amazon Web Services.

“Fyma is working at the cutting edge of AI automation to seamlessly deliver new insights for property groups and real estate companies around the globe,” said Andrew Drylie, investment manager at Quadri Ventures.

“Their laser-like focus on ease of deployment and scalability coupled with a simple end user experience is what we feel separates Fyma apart from legacy solutions across this space.”

The round also featured participation from Second Century Ventures.

“[Fyma’s] innovative AI-driven approach is set to redefine data analytics across multiple real estate segments and geographies, aligning perfectly with our ethos of supporting ventures at the forefront of technological evolution,” said Dave Garland, managing partner at Second Century Ventures.