A Quebec developer of IP video compression, transmission, and decoding technology for business, government, and military clients has received funding from various investors to finance expansion and R&D efforts.
By SP&T Staff
Angel investors from Anges Québec have announced a $445,000 investment in the Laval company IONODES. This amount is supplemented by a $500,000 investment from Anges Québec Capital and $580,000 in funding from Desjardins – Innovatech.
“Thanks to this funding, efforts will be made to step up the company’s business development in the United States, Europe, the Middle East, and Africa,” explains Angel investor Robert Branchaud. “IONODES has products and an innovative approach that I’m certain will have a place in the international market because the company has developed an effective technology for improving and facilitating video recording, transmission, and storage.”
In concrete terms, this new investment will allow the company to open its first branch in Europe.
Alongside this expansion project, IONODES is pursuing research and development. President explains, “Developing technological innovations and creating new products adapted to the ever-changing video surveillance market are really our company’s biggest concerns. And Anges Québec’s support is more than just a dollar amount; it also gives us access to a considerable amount of expertise and invaluable advice,” says IONODES president Éric Tasso.
Some members of the IONODES R&D team are working to develop innovative portable cameras designed specifically for police and military use. The company feels this booming market segment has significant growth potential.
Jacques Perreault, associate vice-president, technological innovations at Desjardins Business Capital régional et coopératif, manager of Desjardins – Innovatech, says he was impressed by IONODES’s flexibility and ability to adapt and innovate. “This funding is a sign of trust and a major growth driver for the company and we’re very happy to be a part of it to help accelerate strategic partnerships in certain promising segments of the video surveillance market.”
IONODES specializes in developing IP video compression, transmission, and decoding technology as well as video content management appliances and software platforms.