TRACE raises $2.5MN for self-driving, live streaming acquisition
DetailsMichelle Clancy | 17 December 2014
The TRACE Live Network has closed an oversubscribed seed round with a total of $2.5 million in funding, which it will use to further develop opportunities for the TRACEr1 - an intelligent camera capable of following its owner around using a series of motorised vehicles while live streaming captured footage to the Web.
Using proprietary video-as-a-sensor technology, the TRACEr1 has been designed to self-operate its accessory vehicles, clicking in and out of form factors as needed. The company says that once required imaging and streaming preferences have been selected within the TRACE app, the camera and its 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 round was led by the principles of Salman Partners with participation coming from various private sources within the Business Instincts Group Network, which owns the venture.
"The success of companies like GoPro has proven without doubt the desire by people to record their own great adventures, said founder Cameron Chell. "With TRACE, we're aiming to ensure they are a part of these epic moments, rather than just the one filming them."
The TRACE Live Network will be officially launched in January, with retail availability planned for the fourth quarter of 2015.