Friday, December 6, 2019

Cambridge Mail Security Startup Closes $3 Million Seed Round






Cambridge-based RaySecur, which has developed 3D desktop scanners to detect dangerous items hidden in letters and packages, has closed a $3 million seed round.
The funding was led by One Way Ventures, a relatively new Boston-based firm focused on backing immigrant founders. Junson Capital, Launchpad Venture Group, Dreamit Ventures and others also participated in the round.
RaySecur’s flagship product is a scanner called MailSecur, which uses millimeter-wave technology to screen mail at airports and elsewhere. The U.S. Department of Homeland Security designated MailSecur as a Qualified Anti-Terrorism Technology early last year. RaySecur now counts both government agencies and leading Fortune 500 companies among its customers, according to an emailed statement.
Originally developed for defense and space applications, RaySecur’s imaging technology provides the ability to scan the insides of packages and other items using terahertz or T-ray imaging. Co-inventor Eric Giroux now leads RaySecur as COO alongside CEO Alexander Sappok.
“Unlike X-ray systems which use harmful ionizing radiation and produce only 2-D images, terahertz imaging is completely safe, providing dynamic, full motion imaging with 300X times greater sensitivity to detect hazardous powders and liquids concealed in packages,” Giroux said in the statement.
The team plans to use the funding to further develop its scanners and grow its client base.
“[Giroux and Sappok] make an impressive team, and together with the rest of the RaySecur family, they have already made great progress in making MailSecur a reality,” Semyon Dukach, One Way Ventures managing partner, said in the statement. “Now that they’ve closed this round, they can bring this compelling technology to an even broader market.”

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