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What companies will always be willing to spend on



Overseas, VSaaS solutions now have a massive market share.

Hiventures, a member of the MFB Group, invested HUF 125 million in the Hungarian startup developing a cloud-based video surveillance software system, Vidarex Kft. The goal is to localize technology that is even less common in the region.

Vidarex is an extremely user-friendly, service-based video surveillance system that enables fast video access and search through an easy-to-learn and use mobile and web application. Scalability ranges from a few cameras to systems managing thousands of cameras. In addition to the classic asset protection and security application areas, Vidarex’s main focus is monitoring and optimizing business processes. The use of rapidly developing artificial intelligence-based video analytics and the possibilities of the Vidarex Video Integration Platform open up new horizons in the field of increasing work efficiency, quality assurance, or, for example, handling customer complaints.

The development of the Vidarex software started in the incubation program of Hiventures in the spring of 2020, with the participation of mentor István Alpek, and after the early market validation, they received additional financing and trust from the venture capital fund manager. The completed service is primarily used by the SME sector, including construction, HoReCA, logistics and other commercial enterprises. With the help of the current HUF 125 million seed capital investment, Vidarex continues to develop the product and expand its presence on the domestic market. “There are many companies in the incubation portfolio of Hiventures that successfully complete the initial validation and product development phase, thus opening up the next level of step-by-step financing for them, the seed investment. Vidarex is also such a startup, in which we believe because their software is such a provides a convenient solution for companies, which companies will always be willing to spend on: and this is security,” said György Dráfi, director of Hiventures’ Magvető investment program. In addition, international expansion is also planned: “With their service, we will not stay within the borders of Hungary. We will enter the DACH market in 2023, which is being prepared,” said Péter Bucsi, Vidarex’s managing director.

The use of service-based software (SaaS, i.e. Software as a Service) is part of our everyday life. Video surveillance follows this global trend several years late. VSaaS, i.e. “Video Surveillance as a Service” solutions, now have a massive market share overseas, with an annual growth of over 13%. In this respect, Europe is considered an emerging market, and our region is significantly behind. “The global trend is clearly visible, supported, among other things, by the rise of 5G mobile services. Vidarex aims to be a catalyst for the spread of service-based video surveillance in Hungary and the region with its domestically developed software, as well as to meet the challenge posed by international competitors in the global market” – added Miki Bata, head of business development at Vidarex.

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Mr.Mario
Mr.Mario
I am a tech enthusiast, cinema lover, and news follower. and i loved to be stay updated with the latest tech trends and developments. With a passion for cyber security, I continuously seeks new knowledge and enjoys learning new things.

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