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Alta Berkeley Invests in Camero Inc
LONDON, October 12th, 2004: Alta Berkeley, the London-based venture capital firm focusing on the next generation of leading technology companies in communications and computing across Europe and Israel, is pleased to announce that in conjunction with Jerusalem Global Ventures, Motorola Ventures and Walden Israel, it has provided funds to Camero, Inc. thereby closing a Series A financing round of more than $6 million. The funds will be used to further develop Camero's through-wall imaging system. Camero is developing a unique imaging system which generates a 3D image of objects concealed by solid barriers such as walls. The Camero system is initially targeted to Fire & Rescue, Law Enforcement and Special Forces operatives, providing them with the means to quickly locate people through walls in order to save their lives, monitor people and situations, and protect the lives of operatives entering unknown or potentially hostile situations. Camero was founded by Aharon Aharon and Amir Beeri, and has operated in stealth mode as an Entrepreneur-in-Residence project at Jerusalem Global Ventures. Commenting on the closure of the financing Aharon Aharon, Founder and CEO of Camero said; "We are very happy to partner with such an experienced group of investors. Camero faces exciting challenges in the emerging market of homeland security and we believe that the company's strong technical leadership in multidisciplinary fields, will provide us with a key competitive edge in the market. Having Alta Berkeley join our distinguished investors Jerusalem Global Ventures, Motorola Ventures, and Walden Israel, will strengthen Camero's contacts in Europe, and will allow us to take Camero to the next stage in its development." Commenting on the investment Pete Magowan, Partner at Alta Berkeley said; "Camero offers a unique technology to its clients and is at a very interesting time in its development. This investment reflects Alta Berkeley's strategy of investing in unique technological businesses with strong management teams and global reach." Back to Press Releases |
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