Octopus , a Tel Aviv startup that makes cloud-based physical security systems for large facilities, has raised $2.5 million from Singulariteam.
The company will use the funds to expand in the U.S. and Asia. In China, its growth plans will be helped along by the fact that two of China?s biggest Internet companies, Tencent and Renren , are Singulariteam backers . Octopus? products are already used in Israel by the government, 28 Coca-Cola factories, VISA, and three national banks.
Octopus? security systems, intended for facilities like airports, factories, hospitals, and commercial buildings, can be monitored from a web or mobile app. Its cloud-based system analyzes data in real-time from sources including video surveillance feeds, traffic reports, social media keywords, and fire and burglar alarms so emergencies can be prevented or dealt with quickly by first responders.
Co-founder and chief executive officer Tal Bar Or spent 13 years serving in the Israel Security Agency before working as a consultant, helping clients design security systems. At Octopus, he works with co-founder Baruch Tagori, a cybersecurity expert, to make sure Octopus? systems are safe from hacking as well as physical break-ins.
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