DB eVentures, Deutsche Bank AG's global strategic private
equity investor focused on financial services, today announced an equity
investment of $5 million in Technologies Ltd., the maker of the world's
first reader-free Internet card. DB eVentures is joined by Marubeni Corporation
and other major investors, bringing the total investment to nearly $10 million.
The ComSensea reader-free wireless technology enables
credit cards and other plastic cards to communicate with Internet-based
applications, scaling the last major obstacles for e-commerce. Equipped with
technology known as ComDot(TM), the new self-powered Internet cards ensure
secure Internet transactions. The card provides convenience and
user-friendliness as well as security, enabling online account access and
closing trusted transactions at the click of the card's ComDot button. ComDot is
the world's first self-powered bankcard technology. Unlike existing "smart
cards," ComDot-powered cards do not require any card reader, because they use
sound to communicate. This gives these cards immediate interoperability with
home computers, 98% of which have sound cards, as well as telephones and mobile
phones. Since no card reader or special set-up is required, ComDot is truly
flexible working with a PC or telephone at home, at work and on the road.
"Our relationship with DB eVentures goes beyond the
investment. DB eVentures is creating business opportunities inside Deutsche Bank
and elsewhere in the financial services sector," said CEO Alon Atsmon. "We are proud that Deutsche Bank,
given its extraordinary perspective to qualify our technology for global
e-Commerce and financial services, chose to invest in our reader-free Internet
card technology."
"Our aim is to forge strategic partnerships to drive
technology innovation in financial services," said Matthias Brandl, director and
chief investment officer at DB eVentures. "We see enormous potential for the
technology in financial services, online
services, and communications. Anyone delivering services over the Internet or
telephones can use ComDot-powered cards to add convenience and security. Because
the card is reader-free, it will speed deployment, reduce market barriers, and
minimise support costs for issuers using the
card technology.
"As partner, we
strive to identify opportunities within Deutsche Bank, its clients, partners and
the wider financial community resulting in increased sales. DB eVentures
approach to private equity investment is a win-win proposition to Deutsche Bank,
our portfolio firms and our partners."
will use the investment
to expand production capacity for ComDot-powered cards and increase sales and
marketing efforts in the U.S., Europe, and Asia Pacific regions. The company
will also accelerate the development of the next generation of reader-free card
products.
DB eVentures, Deutsche Bank's global strategic private
equity investor, forges partnerships to drive technology innovation in financial
services. DB eVentures funds and develops key e-business partnerships in close
co-operation with the bank's global businesses to provide DB with partners in
cutting edge technology and e-business solutions. In addition to , other investments include AlphaBlox, Financial
Technologies International, FT Ventures, Gilian Technologies Inc, Imediation,
Platypus, Riskmetrics and Trema. Website: www.dbeventures.com