ContinUse Biometrics has become the first Israeli startup to receive a strategic investment from Tyco, the global security, access control and fire extinguishing corporation. The investment will allow ContinUse Biometrics to continue to develop its technology and embed it into a range of solutions for the construction and smart home industries for Tyco's clients around the world. No details were disclosed about the amount of the investment but reports indicate it was about $1 million.
ContinUse Biometrics has developed a biometric sensor capable of remote continuous detection and monitoring of bio-medical indicators with no need for contact. The sensor is capable of detecting physiological signs such as heart beat, blood pressure, breathing pace, glucose level, oxygen saturation and alcohol levels in the blood even if the subject is located a few meters away on the other side of the room and is fully dressed.
The biometric sensor developed by ContinUse incorporates a breakthrough technology, which is based on unique, patented nanotechnology methodology. This technology allows continuous distant reading of bio-medical parameters based on the molecule and internal organ vibrations in the subject's body. The data can be used to authenticate a person's identity as well as provide information about his/her fitness and general health.
This is a quantum leap in applying IoT for human identification for security and smart home management applications, as well as for workplaces and sensitive facilities. The sensor can remotely authenticate, without any contact, people's identity based on their unique physiological parameters, for applications such as access control or operational supervision of work attendance, sensitive facilities and more.
Tyco, a global corporation with annual turnover of over $10 billion, employs some 60 thousand people in 200 countries. It collaborates with ContinUse in developing identity authentication and access control systems.
Founded in 2015, ContinUse Biometrics is based on technology developed over a decade by the Bar-Ilan and Valencia Universities. Six months ago, the company joined the first cycle of Tyco's technology commercialization in Israel which is meant to help companies with breakthrough technologies achieve global sales through the existing sales channels of the giant corporation. Other investors in ContinUse Biometrics to date include also the investment arm of Lenovo and Olive Tree Venture Fund.
Tyco Innovation CEO Eli Gurevich who is currently completing recruitment for the second cycle of Tyco's technological commercialization program, said, "The strategic investment in ContinUse helps realize Tyco's vision in Israel, namely to identify the forefront technologies that would be of interest to our global clients while helping mature companies achieve global presence." He added, "Israel has positioned itself as a hub of security and IoT technologies for smart environment. As a result, we have witnessed significant growth of Tyco's activity in Israel over the past year, from the launch of the commercialization program, through the establishment of an investment arm and making our first strategic investment here. This is a vote of confidence in ContinUse Biometrics and its ability to disrupt the status quo in its category."
Published by Globes [online], Israel business news - www.globes-online.com - on May 31, 2016
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