Developing Innovative Homeland Defense Technology
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ZAP Ventures Announces Investment in Safe-View, Inc– June 1st 2003
ZAP Ventures is pleased to announce that it has participated in the Series A financing of Safe-View, Inc., a company that is developing innovative homeland-defense technology. Other investors in the financing include Draper Fischer Jurvetson and InVision, Inc. As part of the investment, Kelly Porter, Managing General Partner of ZAP Ventures, is joining the company's Board of Directors as an observer. Valuation and other terms of the investment were not released.
Porter said "Safe-View is one of the hottest companies in the personal detection industry, and being invested alongside DFJ and Invision provides a significant strategic benefit for the company and for ZAP Ventures."
Safe-View is developing a next-generation personal detection system using millimeter wave technology that allows a detection machine to see through clothing to illuminate hard objects against the body. The product is designed for any situation where metal detectors are currently used, such as airports, federal buildings, prisons, stadiums, and in other applications. The core technology was designed by Batelle for the Department of Energy, and patents for the technology were acquired by Safe-View's founding team.
Safe-View is led by Rick Rowe, formerly CEO MCMS, a $550M global Electronic Contract Manufacturer which was sold to Plexus in January 2002. Prior to MCMS, Rowe retired in 1999 from a successful executive career in Honeywell culminating with a succession of assignments including the VP and General Manager of three of Honeywell's large global operating Divisions, Measurex, Home and Building Products, and Sensing and Control Products.
ZAP Ventures is a venture capital firm that invests in early-stage companies.
