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Camero receives $14 Million in Series B Funding led by Greylock Partners New Funding Will Support Growing Sales of the Xaver800 ‘Through-Wall Vision’ Systems Tyson’s Corner, Virginia, January 8, 2007 - Camero Inc., a pioneer in 'Through-Wall Vision' solutions, today announced the successful closing of a $14 million Series B investment round led by Greylock Partners www.greylock.com, a leading Venture Capital firm. The new investment round includes participation by all of the company’s existing investors including Jerusalem Global Ventures (www.jgv.com), Alta Berkeley (www.altaberkeley.com), Walden (www.walden.co.il) and Motorola Ventures, the venture capital arm of Motorola Inc. ( NYSE:MOT). The Series B investment round follows delivery of Camero’s unique ‘Through-Wall Vision’ system, the Xaver™ 800, to initial customers worldwide The company further announced the election of Erez Ofer, a partner at Greylock, to its board of directors “Camero’s technology and Xaver800 system present breakthrough capabilities for 3D imaging through walls. We are excited about the opportunity these systems provide for military, law enforcement and search and rescue personnel to perform their tasks more effectively and safely,” said Erez Ofer of Greylock Partners. “ In Camero we have found the right mix of talent, technology and know-how to make these systems a reality.” “We are pleased to join forces with such a strong partner as Greylock Partners. Their experience will be of great benefit to our company as we focus on growing our worldwide sales and marketing infrastructure in 2007 and beyond,” Aharon Aharon , CEO of Camero said. “ The capital will enable the company to realize its full business plan: expand its customer base, strengthen the engagement with existing clients and forge new relationships with strategic partners worldwide.” Shlomo Kalish of Jerusalem Global Ventures commented, “Our fund is delighted to celebrate yet another milestone for Camero. We, together with all of the shareholders, continue to be impressed that the company has successfully achieved all of its targets to date.” About Camero: Camero’s Xaver™ 800 system 'Through-Wall Vision' system generates real-time, three-dimensional images of stationary and moving objects concealed behind solid barriers. This first-of-its-kind capability enables the rapid completion of life-saving operations while greatly reducing the severe risks involved for those operating in life-threatening environments. Developed to meet the special requirements of diverse forces such as the Military, Law Enforcement and Search and Rescue, the Xaver™ 800 has been delivered to leading customers around the globe. Back to Press Releases |
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