Oxford Innovation Finance’s EIS Growth Fund and OION Angel Network have invested in Hoxton AI, a space analytics company transforming our understanding of how people use physical spaces.
Hoxton AI offers people counting and occupancy monitoring solutions through self-install video analytics. Their easy to install technology uses sensors mounted above doorways to track movement and occupancy in real-time, providing detailed insights via the cloud-based platform to help businesses optimise the use of physical spaces.
Hoxton AI’s technology is replacing hard-ware based industry approaches with a self-serve and software first system that enhances decision-making for boosting customer experiences, streamlining operations and improving space management. With a vision to revolutionise the efficiency and utilisation of physical spaces, their target industries include retail and hospitality, where accurate tracking of visitor behavior can lead to better service, cost savings, and more effective use of space.
Already with patented technology, over 120 clients and a growing US customer base, the additional investment of £250k will be used to fund Hoxton AI’s journey to market and grow its international customer base.
Duncan Mann, CEO of Hoxton AI, commented: “We are excited to close this round of investment which will allow us to further our mission of transforming how businesses manage and optimise physical spaces. With the support of our investors, we will accelerate our growth and enhance the capabilities of our people counting and occupancy monitoring technology. This funding brings us closer to making real-time spatial analytics more accessible and scalable, enabling our clients to create better, data-driven experiences for their customers."
Richard Cooper, Managing Director at Oxford Innovation Finance, said: "Hoxton AI is leading the way in leveraging AI for real-time occupancy and people counting. Their innovative solutions have the potential to revolutionise how businesses optimise space, drive operational efficiency and enhance customer experiences. We believe in the team’s vision and are excited to support their growth as they continue to scale and transform industries reliant on physical spaces."
Published: November 2024.