The Real Deal New York

The future of prop tech to include software to ID weapons?

MetaProp’s newest class includes Aegis AI, a Chicago-based company, that's trying to reduce casualties in active shooter situations
By Erin Hudson | September 16, 2018 12:35PM

(Credit: Air Force photo by Margo Wright, tec_estromberg via Flickr)

In a crowded space rife with venture capital, MetaProp is launching their fourth accelerator class–a New York City-based program that supports prop tech companies over about six months–and there are some unexpected participants this time around.

Top among them is Chicago-based company, Aegis AI, which uses artificial intelligence to monitor surveillance camera footage and detect weapons in buildings. The company was founded in May and, according to CrunchBase, promises to deliver software that will send “push-notifications to building occupants and notify first responders” and then continue to provide updated information, including location, as the situation unfolds.

“We’ve been trying to back a veteran-led organization,” said MetaProp co-founder Aaron Block. “And now we’ve got a U.S. Marine… [who] decided to create a solution that identifies weapons and gives an early warning system for building owners, operators and managers–and most importantly for schools.”

“We couldn’t have dreamed of a better entrepreneur and a better problem to solve,” he added.

Other notable companies taking part in the acceleration program include Los Angeles-based Reasi, which uses blockchain technology for escrow transactions, and New York company Avvir that is aiming to catch construction errors using laser scans.

MetaProp’s backers, who collectively contribute about $1.5 million, include Cushman & Wakefield, First Republic Bank, Fox Rothschild and Comcast machineQ.

MetaProp recently launched a $40 million fund to back early-stage companies.