Israeli startup Octopus, which develops security technologies, today announced the completion of a $5.25 million financing round from Canadian venture capital fund AWZ Homeland Security. Founded in 2013, Octopus has raised $7.75 million since it was founded, including the current round. Participants in Octopus's first financing round included the Singulariteam fund and Chinese companies Renren (the Chinese version of Facebook) and Tencent.
Octopus has developed a cloud-based security platform that makes it possible to detect, prevent, and neutralize physical and cyber attacks against enterprises. The company says that its customers include Coca Cola, Israel Chemicals (TASE: ICL: NYSE: ICL), Tnuva Food Industries Ltd., airports, hospitals, etc.
The company analyzes data from monitoring cameras, analytics, facial and vehicle identification, real time traffic reports, warning and alarm systems, fire sensors, and cyber systems in order to handle emergency situations.
Commenting on the financing round, Octopus cofounder and CEO Tal Bar Or (the other founder is CTO Baruch Tagori) said, "Our ability is to offer an available security management interface with optimal, rapid, and flexible performance and access to mobile, which is critical for our customers. This additional financing round is a vote of confidence by the AWZ venture capital fund, which specializes in homeland security and has world-class experts behind it, and we are proud of this. Cloud-based security services are changing the global security market, and we are continuing to move forward with safe services and user-friendly integration."
AWZ Homeland Security cofounder and CEO Yaron Ashkenazi added, "The fund chose Octopus as an investment because of its clear faith in the product and the managers and professionals behind the company. The product focuses on physical and digital security, intelligence information, and an accessible interface. It provides a significant solution for customers throughout the world. AWZ's security experts, who have great experience in this field, realized that advanced interfaces are an integral part of the customers' success in coping with the risks relevant to this period."
Published by Globes [online], Israel Business News - www.globes-online.com - on June 27, 2017
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