The financing round was carried out at an estimated company value of $8 million, before money.
Biometrics start-up IDesia (formerly C-Signature) has closed a $3 million financing round from French-US venture capital fund Partech International, at an estimated company value of $8 million, before money.
Before the present round, IDesia had raised $1 million from Aladdin Knowledge Systems Ltd. (Nasdaq: ALDN; TASE: ALDN). Partech will appoint two members to IDesia’s board. IDesia will probably raise more money over the next 12 months.
IDesia was founded in 2003 by chairman and CEO Baruch Levanon (a founder of Power Paper Ltd.), CTO Dr. Daniel Lange, and VP business development Yossie Gross, a serial entrepreneur.
IDesia said every person had a unique electrical field. The company’s product can examine a number of features of an individual’s body, especially heartbeat and nervous system activity. These factors create an “electro biodynamic signature” unique to every individual, establishing a unique biometric identity that cannot be forged.
Published by Globes [online], Israel business news - www.globes.co.il - on December 4, 2005