Escape Rescue Systems completes $5.5m 2nd round

Escape Rescue Systems is developing a device for mass evacuation from buildings. Apax Partners led the round, with Veritas and IHCV.

Start-up Escape Rescue Systems today announced that it had raised $5.5 million in its second financing round. Apax Partners led the round with a $4.5 million investment, alongside the company's existing investors, Veritas Venture Partners and Israel Healthcare Ventures (IHCV). Veritas previously invested $2.5 million in Escape Rescue Systems.

Escape Rescue Systems is developing a device for mass evacuation from buildings. The device is a sleeve comprised of a series of cells installed in a folded position on a building's roof. In case of emergency, the sleeve opens along the building's façade, allowing people to descend as if in an elevator. The device also enables rescue teams and firemen to climb the building quickly.

In July 2004, Escape Rescue Systems deployed the new system on a prominent office building in Israel.

Escape Rescue Systems was established in September 2002 by a group of entrepreneurs, and is managed by Dr. Jonathan (Yoni) Shimshoni (Brig. Gen., Res.) and Ziv Brosh. Escape is active in the U.S. market and is currently negotiating the installation of the system in New York and other U.S. cities. In addition to Veritas and IHCV, General (Res.) Amiram Levin, Tal Gordon, and Gilat Satellite founders Amiram and Yehoshua Levinberg were involved in the establishment of the firm.

Dr. Shimshoni was recently appointed to head an American Society for Testing and Materials (ASTM) standards organization's subcommittee and to manage the standards for rescue systems in the US.

Published by Globes [online] - www.globes.co.il - on October 18, 2004

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