Fyma OÜ

Fyma OU, based in Estonia, specializes in transforming traditional CCTV systems into advanced AI-powered analytics tools, providing real-time data insights for optimizing space and enhancing operational efficiency. Founded in 2017 in Tallinn, Estonia, Fyma OU specializes in AI analytics solutions that enhance existing CCTV systems. The company has successfully completed two deals, including a recent venture funding round on November 10, 2023, where it raised USD 2. 1 mn led by Quadri Ventures, with participation from Second Century Ventures.

The CEO is Karen Burns, who co-founded the company along with Taavi Tammiste and Thomas Paule. Fyma provides an AI-powered analytics platform that upgrades regular CCTV cameras into intelligent data-gathering devices. This platform delivers real-time insights on occupancy, foot traffic, and engagement metrics, enabling clients to optimize space utilization and improve operational efficiency. Fyma primarily serves property managers, asset operators, and urban planners across the UK and the US, aiding in data-driven decision-making for enhancing tenant experiences.

In 2023, Fyma generated a revenue of USD 179,114. 70, with an EBITDA of USD -866,248. 10. Revenue is primarily derived from a subscription model, charging clients GBP 1,500 per camera per year in the UK and USD 1,500 per camera per year in the US, alongside a one-time setup fee.

This structure allows clients to leverage existing camera infrastructure for comprehensive analytics without incurring significant capital expenditures. Fyma's strategy for future growth involves utilizing the USD 2. 1 mn raised in November 2023 to advance its go-to-market strategy, enhance AI training tools, and establish a dedicated R&D program for new product development. The company aims to expand into additional geographic markets while continuing to enhance its existing offerings.