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September 18, 2019

Smart Cities Startup CIMCON Raises $33 Million to Expand Facial Recognition Tools

BostInno -- Burlington-based smart city solutions maker CIMCON raised $33 million in a Series C round led by Digital Alpha. The round included $23 million in equity and a $10 million revenue-sharing facility. Energy Impact Partners also participated in the round.

CIMCON, short for “city information management and control,” started off in 2012 by offering outdoor lighting technology to make street lights more efficient. Today, the company bills itself as a smart cities technology provider making IoT solutions for outdoor uses.

The company’s CEO Anil Agarwal noted that CIMCON’s flagship product, NearSky, connects a city’s outdoor assets such as parking spots, street lights and fire hydrants with a video camera to collect data on a range of things, including pedestrian traffic, air quality, gun safety and more.

Read the full article on Bostinno