Video monitoring co OzVision raises $6m

Aviv Venture Capital and Kardan Communications made the investment.

10 November 08 16:23, Shmulik Shelah

OzVision Inc. has raised $6 million from Aviv Venture Capital and Kardan NV (TASE: KRNV;AEX:KARD) unit Kardan Communications Ltd. The company said that the proceeds will finance growth by expanding its operating, marketing, and sales networks.

OzVision CTO Shahar Belkin founded the company at Kibbutz Nahal Oz in 1995. According to IVC Online, the company has raised $19 million in three financing rounds, as well as seed financing and an internal round.

OzVision's remote video compression technology enables the transmission and control of streaming video images over broadband, satellite, as well as low-bandwidth environments, including standard phone lines and cellular networks. The company's main customers are factories, assisted living facilities, and other enterprises that use closed circuit television security systems. The company has a distribution agreement with ADI, a leading US distributor of security products, as well as with leading US security software firms.

This is the first investment by Aviv Venture Capital's new fund. Aviv's managing partners are founder Dr. Amir Guttman and Yoav Z. Chelouche.

Published by Globes [online], Israel business news - www.globes-online.com - on November 10, 2008

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