A4Vision Inc. Announces $3.1 Million in Series A Financing

Leader in Advanced Identification software and 3D Facial Imaging Technology has secured financing for further developing its security and consumer business

Mar 24, 2003 - A4Vision Inc, a global leader in advanced identification software and 3D facial imaging technology, today announced it has secured $3.1 Million in Series A Financing, bringing total investment in the company to $5.7 Million.

The financing round includes two prominent new investors, Silicon Valley based venture capital firm Sunrise Capital and Newport Beach based Hanna Ventures, representing approximately 10% of the investment. Other new investors include the law firm Wilson Sonsini Goodrich & Rosati and several private individuals.

Existing investors, venture capital company myQube and the global leader in PC peripherals products Logitech, contributed to the remainder, maintaining their equity position in A4Vision Inc.

The new funds will be applied to continuing the development of the company’s technology, marketing base products and applications, advancing market penetration, and expanding A4Vision’s customer base, which comprises security, law enforcement and consumer markets, such as PC and Internet applications.

Grant Evans, CEO of A4Vision, said, “Raising this new round of funding in today’s market environment from such high-quality investors, confirms the value of A4Vision technology and products.”

David W. Hanna, Chairman of Hanna Ventures, said, “We are pleased to join myQube and Logitech in this promising company and we are convinced that A4Vision has all the assets to compete in the global security market.”

To date, A4Vision’s available products are: A4Access Control for employee access to airports, buildings, high-security zones, and A4Face Tracker, software for webcams that enables targeting and automatic tracking of a person’s face to keep it centered during video instant messaging sessions, video conferences or while recording video e-mails.

The company forecasts an end of 2003 launch of the A4Secure Portal, for access to airports, borders and immigration desks, and public infrastructure. By 2004, A4Vision expects to release the A4Wide Eye Smart cameras for surveillance in public areas. Both products will support passive, non-invasive mode of operation.

A4Vision’s customers include such global companies as Logitech, the world’s largest computer peripherals company, Siemens, and Auselda among others.


About A4Vision
A4Vision (Applications for Vision) develops and licenses advanced identification systems and tracking solutions using 3D facial imaging and recognition technology. 4Vision is headquartered in California (USA) with offices in Geneva(Switzerland) and Moscow (Russia).

Suzanne Matick
840 West California Ave
Suite 200
Sunnyvale, CA 94086
USA
 
 
phone:  831-479-1888
fax:  408 746 3700
Suzanne@matick.net
 

 

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