Halifax-based AI company SyncraSys has closed an oversubscribed seed financing round that exceeded its fundraising target by 30 percent.

The company is developing an artificial intelligence platform for physical security operations and is nearing completion of its first proof of concept.

SyncraSys announced the funding round in a press release on Tuesday but did not reveal the amount it had raised.

SyncraSys’ software is designed to work with existing security infrastructure rather than replace it. The platform connects information from multiple camera feeds, analyzes incidents in real time, follows events as they unfold and generates alerts and automated incident reports.

The company is targeting corporate security teams and operators of critical infrastructure, including stadiums, airports, university campuses and other large facilities.

“The security industry has spent years focused on detecting threats,” CEO Darren MacLeod said in a statement. “But detection is only the beginning.”

MacLeod previously co-founded Halifax-based cybersecurity company Social Navigator Inc., which operates as LifeRaft.

SyncraSys has also established an initial advisory group as it prepares for real-world deployment of its technology. The company said its leadership team has experience in artificial intelligence, product development, enterprise software, cybersecurity, public safety and business growth.

The seed financing will be used to accelerate product development and support the company’s next stage of growth.