TRACE secures $2.5M seed round led by principals of Salman Partners
TRACE Live Network, the developer of The TRACEr1, a visually intelligent camera capable of following its owner almost anywhere and live-streaming captured footage to the web, has raised $2.5 million in an oversubscribed seed round of financing from private investors.
TRACE Live Network is a venture created by the Business Instincts Group (BIG).
Principles of Salman Partners led the seed round with participation of 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 co-founders of 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.
“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,” said Chell.
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.