Video Enhanced Observation (VEO), a spinout of Newcastle University, has raised £130,000 ($200,434).

The round was backed by local investor Northstar Ventures through the Finance for Business North East Proof of Concept Fund.

The cash will be used to further develop VEO’s online portal to its video tagging tool.

Paul Miller, CEO at VEO, said: “Securing investment from Northstar Ventures has given us a fantastic opportunity to drive forward our innovative platform. By intuitively combining video and data, VEO transforms CPD and business processes, creating enormous value for a wide range of commercial, clinical and educational organisations.