Homeland security investor Athlone Global Security Ltd has invested $2 million in Israeli start-up Larotec . Athlone was joined in the funding round by an unnamed US investment bank, which invested $1 million.
Petah Tikva-based Larotec was founded in 2005 by Uzi and Alon Lumbroso. It provides telecommunications solutions for the machine-to-machine (M2M) market, allowing machines and devices to communicate with each other. Its products focus on specific market segments,, including utilities (Advanced Automatic Meter Reading), homeland security, enterprises with distributed sites in wide areas, manufacturing plants, and other various users. The firm's Web2M product enables them to gain control of their widespread devices.
Athlone chairman Maj.-Gen (res.) Doron Almog said "Secure wireless communication between devices is a very valuable element in all security systems and solutions."
Athlone group invests in homeland security, and has invested around $20 million to date, including in Israeli start-ups DefenSoft Planning Systems Ltd. , Emza Visual Sense Ltd. , Icaros Software Ltd., voice biometrics company PerSay Inc., and Secure Vision Ltd., and in TraceGuard Technologies Inc. (Bulletin Board:TCGD).
Published by Globes [online], Israel business news - www.globes-online.com - on February 4, 2008
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