Comsense raises $10 million

Deutsche Bank AG's global strategic private equity fund invested $5 million. Other investors included Marubeni Corporation.

DB eVentures, Deutsche Bank AG's global strategic private equity investor focused on financial services, today announced an equity investment of $5 million in ComSense 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 ComSense 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 ComSense 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 ComSense card technology.

"As ComSense's 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."

ComSense 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 ComSense, other investments include AlphaBlox, Financial Technologies International, FT Ventures, Gilian Technologies Inc, Imediation, Platypus, Riskmetrics and Trema. Website: www.dbeventures.com

5 Comments
View comments in rows
Update by email about comments talkback
POST
Comments
Twitter Facebook Linkedin RSS Newsletters גלובס MAD Conference 2017