Led · Equity · Apr 2021

Safe Zone operates in the gunshot detection system (GDS) market and completed a USD 1 million round of funding anchored by Seedfunders. The company plans to use the financing to broaden its senior leadership team and strengthen distribution in North America. It competes in a fragmented sector alongside firms such as ShotSpotter, ACOEM Group and Louroe Electronics. The broader GDS market was valued at USD 673.9 million in 2020 and is projected to grow from USD 697.5 million in 2021 to USD 1,408.3 million by 2028 at a 10.56% CAGR. North America was the largest regional market in 2020, generating USD 248.3 million. The article notes COVID-19 disruptions that have delayed product deliveries and may hinder near-term market growth.