Law Firm Hedman Partners advised the Tallinn-based computer vision AI startup Fyma (formerly Visory) on closing a EUR 1,55 million seed round.
Fyma is a SaaS platform, that enables businesses, with the help of AI, to make informed strategic decisions by turning conventional video cameras into sensors. The technology is designed to create value for cities and technology companies working in urban environments.
Their pilot projects were with Dubai Road and Transport Authority and also with Tallinn’s Ülemiste City – the city’s busiest business park. The company plans to use the investment to fund additional pilot programs that will help evaluate where Fyma can make the biggest impact and grow the team.
The investment was led by Change Ventures, a seed-stage venture capital fund based in the Baltic states, and also included UK-based 7 Percent, Singaporean Decacorn, as well as fellow Estonian VCs Lemonade Stand and Superangel.