Luminescence
Fights Counterfeiting
Overview
PhotoSecure,
Inc., a spinout of the Boston University Photonics Center, has developed
a novel photonic technology to combat product counterfeiting and
diversion. C ounterfeiting is
a growing problem affecting more than 5% of worldwide consumer goods
commerce. PhotoSecure's unique solution enables companies
to prevent brand larceny, control gray market sales and eliminate
document fraud with its proprietary SmartDye™ technology.
Deploying PhotoSecure's total security system composed of unique
signatures read by hand-held scanners, companies can protect the
significant investments they have in their brands. PhotoSecure's
technology encompasses:
Ø Customized covert or overt marks incorporating unique signatures
which are virtually impossible to counterfeit, and applicable to
almost any surface.
Ø Sensitive and specific readers, which are inexpensive and easy
to use.
Ø Encoded data content using 2D barcodes or other systems as part
of the mark.
Ø Wireless transfer of authenticated barcode information to a secure
database, and subsequent return of rich content back to PocketPC-based
authentication device.
Ø Real-time on-site authentication, information management and distribution
chain tools to better enable companies to authenticate and track
and trace their products in the market.
PhotoSecure's proprietary security marks are heat resistant, light
stable and can be applied at production line speeds during manufacturing
or packaging. An unlimited number of special signatures can
be developed, affording companies the ability to license and maintain
their own unique and unbreakable marks. These marks can be
included covertly on original packaging, maintaining brand aesthetics
and eliminating unsightly barcodes. In addition to hand held
readers, PhotoSecure's detection technology can be adapted to high
speed, inline applications.
About PhotoSecure, Inc.
PhotoSecure, Inc. was founded in 1998 to commercialize innovative
photochemical/information technologies. With revolutionary
marking and reading technology, the Company provides manufacturers
with cost-effective and production-ready systems for protecting
products and documents, which are increasingly subject to counterfeiting
and unauthorized distribution. PhotoSecure is one of the innovative
technology companies spawned from the Boston University Photonics
Center, a business incubator focused on commercializing technology
developed at the University.
In August, 2002,
PhotoSecure closed Series B venture funding of $1.6M. The capital
is enabling PhotoSecure to increase sales and marketing efforts,
as well as hire additional personnel, as the Company expands its
market presence and gears up for projected near-term customer shipments.
The financing was led by Brook
Venture Fund of Boston, and received support from Boston University’s
Community Technology Fund .
"PhotoSecure provides an unparalleled brand protection technology
which effectively thwarts huge losses in revenues for companies
in a broad range of vertical markets, " says Ned Williams,
partner with Brook Venture Fund. "The Company's solution
to counterfeiting is a must-have for any company seeking to protect
its brand integrity. We are pleased with PhotoSecure's performance
to date and confident in its ability to excel in the future."
"We are very pleased to have attracted such a strong investor
as Brook Venture Fund, particularly in a challenging fundraising
environment," says David Phillips, president and chief executive
officer of PhotoSecure, Inc. "Brook Venture's funding
provides strong validation of our value proposition and potential
for increased success. We are excited about the bright future
of PhotoSecure and the potential of effectively decreasing the worldwide
problem of brand larceny and enhancing document security."
PhotoSecure has raised
a total of $3.1 million since its inception in 1998. The Series
B funding will be used to hire key senior personnel for technical
marketing and sales activity. PhotoSecure has fully developed
commercial systems, which the Company is actively marketing worldwide.
PhotoSecure expects to become cash flow positive in 12 months.
PhotoSecure is located in
Boston, Massachusetts. For more information, call 617-358-0477
or visit http://www.photosec.com
In
February, 2003, PhotoSecure and Optimum Technologies, Inc. concluded
an agreement for OTI to distribute PhotoSecure's SmartDye™ technology
into the life science markets.
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