Press Releases

Camero, Developer of Through-Wall Imaging System, Secures $5M in Series A Financing

Jerusalem Global Ventures Led the Round,
with Co-Investments from Motorola Ventures and Walden Israel Venture Capital

Herzliya, Israel, June, 30 2004 - Camero Inc. today announced closure of a Series A financing round of $5M. Jerusalem Global Ventures led the round, joined by Motorola Ventures, the venture capital arm of Motorola Inc. (NYSE: MOT) and Walden Israel Venture Capital.

Camero is developing a unique, portable “through-wall imaging micro-power radar,” which will enable rescue forces to operate more effectively in saving lives. The Camero system is initially targeted to Fire & Rescue, Law Enforcement and Special Forces operatives. The company’s proprietary technology uses FCC compliant Ultra-Wideband (UWB) technology to generate a 3D image of objects concealed by solid barriers such as walls. Camero was founded by Aharon Aharon and Amir Beeri, and has operated in stealth mode as an Entrepreneur-in-Residence project for one year at Jerusalem Global Ventures.

“Camero faces exciting challenges in the emerging market of homeland security,” noted Aharon Aharon, Founder and CEO of Camero. “We believe that the company’s strong technical leadership in multidisciplinary fields, including RF and signal and image processing, will provide us with a key competitive edge in the market.”

Dr Shlomo Kalish, Founding Partner in Jerusalem Global Ventures, said: “Camero’s world-class founding team, headed by Aharon Aharon is developing a unique, life-saving system with huge market potential. The money raised will be used to complete research & development and launch marketing activities.”

“Motorola Ventures is excited about Camero’s unique commercial implementation of UWB technology in the public safety market. We believe Camero’s advanced 3D imaging technology and portability advantage will significantly improve critical detection and rescue operations of many public safety agencies around the world”, added Matthew I. Growney, Managing Director of Motorola Ventures.

According to Moty Ben-Arie, General Partner, Walden Israel, “Camero has the unique ability to leverage its excellence in multi-disciplinary technologies to develop this essential solution.”

Aharon Aharon, Camero’s founder and CEO, formerly held senior management roles within IBM Research Division (Israel and US). He also served as COO of Zoran (NASDAQ: ZRAN) and CEO of Seabridge (a Siemens subsidiary). Amir Beeri, Founder and CTO, previously served within an elite Israeli Intelligence Unit and as VP R&D of ADC Israel and General Manager of Infineon Savan. The company’s Advisory Board includes Major General (Ret.) Amiram Levin and four other US-based senior advisors with experience in and understanding of Camero’s target markets.

About Jerusalem Global Ventures

Jerusalem Global Ventures is an Israeli venture capital fund that invests in seed and early stage communications, information technology and life sciences companies. JGV has over $120 million in capital for investment in exceptional entrepreneurs. Its investors include many of the world's leading technology companies and financial institutions as well as international executive investors. JGV's investors include: Agilent Technologies, Time Warner (AOL), Bank of America, China Development Industrial Bank, Bausch & Lomb, Comverse, Conexant, Itochu Techno-Science, JDS Uniphase, Motorola and Telecom Italia Lab. For more information on JGV please go to www.jgv.com

About Motorola

Motorola, Inc. (NYSE: MOT) is a global leader in wireless, broadband and automotive communications technologies that help make life smarter, safer, simpler, synchronized and fun. Sales in 2003 were US$27.1 billion. Motorola creates innovative technological solutions that benefit people at home, at work and on the move. The company also is a progressive corporate citizen dedicated to operating ethically, protecting the environment and supporting the communities in which it does business. Motorola Ventures (MV) is the global, strategic venture capital investment arm of Motorola, Inc. MV actively invests at early stages in developing companies of strategic value to Motorola in order to accelerate access to new technologies, new markets and new talent. For more information: www.motorola.com.

About Walden Israel

Walden Israel is one of the first Israeli early-stage venture capital funds. Founded in 1993, Walden Israel manages $185 million and focuses on investments in areas of communications and information technology. Walden Israel is affiliated with the Walden International and Walden VC Groups, which manage collectively over $2.5 billion and have established presence in the US and over ten countries in Asia and the Pacific Rim. For more information, please visit our web site at www.walden.co.il

For more information please contact:

Avrom Gilbert
agilbert@camero-tech.com
+972 54 5 667791