DB eVentures, a private equity division of Deutsche Bank, has invested $5m in a $10m second round financing for ComSense Technologies Ltd, which makes reader free internet cards. Marubeni Corporation also participated in the round.
ComSense’s wireless technology enables credit cards and other plastic cards to communicate with internet-based applications. The new self-powered internet cards are equipped with technology known as ComDot ensure secure internet transactions. The cards do not require any card reader, because they use sound to communicate.
Alon Atsmon, CEO of ComSense, said: “Our relationship with DB eVentures goes beyond the investment. It is creating business opportunities inside Deutsche Bank and elsewhere in the financial services sector.
Matthias Brandl, director and chief investment officer at DB eVentures, said: “Our aim is to forge strategic partnerships to drive technology innovation in financial services. We see enormous potential for the ComSense technology in financial services, online services, and communications.
“As ComSense's partner, we strive to identify opportunities within Deutsche Bank, its clients, partners, and the wider financial community resulting in increased sales.”
ComSense Technologies was founded in mid-1998 and has its research and development office at its headquarters in Tel Aviv, Israel. It also has offices in New York and its manufacturing office is in San Jose, California.
DB eVentures is Deutsche Bank's strategic private equity investor. It makes investments which drive technology innovation in financial services and which provide DB with partners in technology and e-business solutions.