RemoteReality, Developer of Next-Generation Intelligent-Omni-Video Systems, Raises $7.3 Million in Venture Funding; Dr. James Ionson Takes the Helm.WESTBOROUGH, Mass. -- RemoteReality Corp., the designer and manufacturer of intelligent-omni-video systems with real-time viewing and analysis software for continuous 360x surveillance, conferencing and other applications supporting government, commercial and enterprise business markets, has secured $7.3 million in venture financing. The funding round was co-led by Battelle Ventures and Chart Venture Partners. "With its patented imaging technology integrating hardware and proprietary software, RemoteReality has solved key technical limitations, including those on video quality, and has reduced the high costs associated with systems that are predominantly in use for video surveillance today," says Battelle Ventures General Partner Ralph Taylor-Smith. "Current intelligent-video systems cannot meet the requirements for persistent situational awareness Situation awareness or situational awareness [1] (SA) is the mental representation and understanding of objects, events, people, system states, interactions, environmental conditions, and other situation-specific factors affecting human performance in , protection of critical assets and efficient communication of essential information. "By integrating high-resolution 360x mirrors, optics, sensors and intelligent processing into unique single-lens, solid-state, high-frame-rate video appliances," continues Taylor-Smith, "RemoteReality's systems promise real-time 360x seamless video, with the ability to simultaneously detect and track dozens of objects while an entire area remains under total surveillance, in both visible and infrared thermal spectra. "What RemoteReality has developed is not only an important technological and economical development for the homeland security Noun 1. Homeland Security - the federal department that administers all matters relating to homeland security Department of Homeland Security executive department - a federal department in the executive branch of the government of the United States , defense and commercial security markets, but also for the enterprise business markets; for example, in video-conferencing applications," says Taylor-Smith. Dr. James Ionson, who became RemoteReality CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. as part of the funding event, adds: "We're solving many of the shortcomings A shortcoming is a character flaw. Shortcomings may also be:
"Current systems have high lifecycle costs, resulting from recurring operations, maintenance and replacement expenses, and costly network upgrades are needed to support bandwidth-intensive real-time video," continues Dr. Ionson, an honored scientist who has successfully operated as an entrepreneur, a high-level corporate executive and a senior defense appointee APPOINTEE. A person who is appointed or selected for a particular purpose; as the appointee under a power, is the person who is to receive the benefit of the trust or power. with top-secret and other national security clearances. "But just one, single-lens, solid-state RemoteReality appliance is needed to provide the highest-resolution, real-time video of an entire area, even in low-bandwidth network environments." He explains: "We incorporate precision single or double mirrors with our unique lenses, which interact with the latest intelligent-video sensors. Using mirrors and a lens is superior to using only lenses, which must constantly compensate for light refraction refraction, in physics, deflection of a wave on passing obliquely from one transparent medium into a second medium in which its speed is different, as the passage of a light ray from air into glass. . This is why highly sophisticated telescopes, such as the Hubble Space Telescope Hubble Space Telescope (HST), the first large optical orbiting observatory. Built from 1978 to 1990 at a cost of $1.5 billion, the HST (named for astronomer E. P. Hubble) was expected to provide the clearest view yet obtained of the universe. , utilize lenses and mirrors rather than lens-only refractor refractor: see telescope. telescopes," he says, adding, "We could call RemoteReality 'the Hubble of intelligent omni-imaging.' "To this superior imaging capability we add sensors and proprietary software that provide intelligent object tracking and analysis - while simultaneously managing bandwidth," continues Dr. Ionson, whose 30-year career includes being head of research for Polaroid and has largely centered on imaging technologies, for which he has authored a number of patents. "The system can continually adjust, sending comprehensive and high-quality imaging data at speeds that adapt to a network's bandwidth capacity. "When the 360x cameras are integrated with high-resolution pan-tilt-zoom cameras, they can provide high-resolution interrogation interrogation In criminal law, process of formally and systematically questioning a suspect in order to elicit incriminating responses. The process is largely outside the governance of law, though in the U.S. of individual points of interest," he explains. "Detection, alarm and tracking software can be added to fully automate the camera system, with alerts transmitted to security monitors, operators' screens, PDAs and other devices when threats are detected in predefined alarm zones. The camera can zoom in on one point of interest while the whole area is still under total surveillance," he says. About RemoteReality (www.remotereality.com) RemoteReality is a development-stage company that has received some $6 million in Small Business Innovation Research grants and development contracts from the Defense Advanced Research Projects Agency Defense Advanced Research Projects Agency (DARPA), U.S. government agency administered by the Department of Defense (see Defense, United States Department of). , the Office of Naval Research The U.S. Office of Naval Research (ONR), headquartered in Arlington, Virginia (Ballston), is the office within the U.S. Department of the Navy that coordinates, executes, and promotes the science and technology programs of the U.S. and other Department of Defense groups. Its initial products are the OmniAlert360 perimeter monitoring system, for perimeter surveillance; the OmniAlert360 manned navigation and surveillance systems, for manned vehicle situational awareness; the OmniAlert360 unmanned navigation and surveillance systems, for unmanned or remote vehicle situational awareness; and the ThermalVision360 system, for night-vision applications. These products are being field-tested by top-tier defense and commercial systems integrators and successful demonstrations have been completed in a variety of situations, such as critical infrastructure protection Department of Defense (DOD) program to identify and protect assets critical to the Defense Transportation System. Loss of a critical asset would result in failure to support the mission of a combatant commander. , military-base security, on unmanned aerial vehicles
About Battelle Ventures (www.battelleventures.com) Battelle Ventures, L.P., a $150-million venture fund, and its $35-million affiliate fund, Innovation Valley Partners, invest in the early stages of companies in the homeland security, life sciences and energy sectors. The firm enhances and adds value to its portfolio companies by leveraging the technologies and expertise of sole limited partner Battelle Memorial Institute The Battelle Memorial Institute is a private not-for-profit applied science and technology development company headquartered in Columbus, Ohio. The institute opened in 1929 but traces its origins to the 1923 will of Ohio industrialist Gordon Battelle which provided for its and the National Laboratories it manages or co-manages for the U.S. Department of Energy. About Chart Venture Partners (www.chartventure.com) Chart Venture Partners is a venture fund that focuses on the homeland defense and security sectors, and has an exclusive strategic partner agreement with InSitech, Inc., the sole partnership intermediary for the U.S. Army's Picatinny/Armament Research, Development and Engineering Center. Names of companies and/or products mentioned herein may be the trademarks of their respective owners. |
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