August 06, 2007
Homeland Security Techs ICX Files For $184M IPO
ICx Technologies filed to raise up to $184M in an IPO. Lehman Brothers and Goldman, Sachs are lead underwriters the IPO. The company plans to list its shares on the Nasdaq under the ticker symbol "ICXT." ICx Technologies has a head count of 750 individuals who develop and sell systems for explosives detection, gamma and neutron radiation detection and perimeter surveillance, among other security products.
The company sells products directly to federal agencies, the military, state and local governments and agencies and private sector customers like Fedex and Walt Disney.
For the three months ended in March 31, ICx' loss was $9.4M from $12.9M in the prior year. During the same period, the company's revenue was $16.4M from $12.5M in the comparable period of 2006.
The company recently named Ken Rapuano as President of Homeland Security. Rapuano was in the White House as Deputy Assistant to the President and Deputy Homeland Security.
View - site
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March 27, 2007
Smart Video Surveillance Startup Buys Crimedex Database Of Criminal Masterminds
3VR Security has acquired Amcrin and its CrimeDex networked database of criminals. The CrimeDex database is networked and web-driven provider of alerts and updates in addition to a comprehensive database with 10K criminals and suspects in ongoing investigations. For its part, 3VR is a developer of searchable video surveillance systems. 3VR plans to integrate the CrimeDex database into 3VR products. Terms of the acquisition were not disclosed.
3VR is one of the new wave of smarter video surveillance startups. Last October, San Francisco-based 3VR raised $15M in its third round of venture funding led by DAG Ventures of Palo Alto led the round with VantagePoint Venture Partners, In-Q-Tel and Kleiner Perkins.
Read - 3VR Acquires Amcrin Inc., CrimeDex Database (SecurityInfoWatch.net)
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February 27, 2007
Geo-Intelligence Specialist SPADAC Funded
McLean, VA-based SPADAC has raised $6.5M in Series B funding from Pequot Ventures. By analyzing past activities and geographic data in a spatial-temporal construct, SPADAC says it might help predict:
* Where border tunnels might be found
* Which infrastructure is vulnerable to various threats
* Where suicide bombers are most likely to strike
* How precious resources should be allocated or distributed
Its primary client base are government homeland security and defense agencies but it also sells to the private sector.
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May 23, 2006
Pair of Anti-Terror Startups Funded In Single Day
If 24s Jack Bauer was a VC, he would be on the board of Passport Systems and Biovigilant. Passport Systems raised $2M in a second round today. The management team and board has more MIT PhDs than you can shake a stick at.
The company's origins came in 1988 after the Pan Am 103 Lockerbie aircraft terrorist explosion. Passport's founder, William Bertozzi, professor of physics at MIT, set out to apply nuclear physics techniques to the detection of terrorist threats. Passport was founded in December 2002 to commercializing technology for the non-intrusive inspection of cargo containers.
Across the country in Tucson, BioVigilant Systems raised $4M, also in a 2nd round. This startup makes devices that detect the presence of microbes and bioterrorism agents in air and water. Biovigalant was founded in 2002 and its first product is an air sampling device for bio-terror that is roughly the size of a small toaster oven and costing tens of thousands of dollars.
Instantaneous Microbial Detection Device - Has Circa 1960s Appearance
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March 21, 2006
VC-Backed Homeland Security Co. SafeView Bought By L-3
While the terms of the transaction were not disclosed venture investors in SafeView are thumping their chests over a strong return over a short investment cycle.
SafeView's low power millimeter wave technology detects such as weapons, explosives, plastics, ceramics, and metals by scanning the body and creating 3-D images of hidden contraband. L-3 Communications is a multi-billion dollar supplier of high technology security products to the Departments of Defense and Homeland Security.
The SafeScout 360
Founded in 2002, SafeView's patented technology was developed at the U.S. Department of Energy's Pacific Northwest National Laboratory.
SafeView's initial round of venture funding from Draper Fisher Jurvetson, DFJ ePlanet Ventures, Stanford University, and InVision Technologies. Paladin Capital Group, Novak Biddle Venture Partners, and Battelle Ventures joined the Series B round in June of 2004.
Read - Venture-Backed SafeView, Inc. Acquired by L-3 Communications (Press Release)
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December 12, 2005
Trend Watch - Homeland Security Investments
Homeland security investments are becoming more common. We had wondered if these investments are based more on patriotism or VC greed. The newest investment is a $5M+ investment round in Canadian startup called Optosecurity which claims to provide improvements to baggage and cargo screening through better image recognition. CEO Eric Bergeron was a VC with Innovatech Québec.
It's a Bomb - Not An alarm:clock
