ATM Security, a Newcastle, UK-based system to improve security at utility substations and other sensitive sites, secured £500k in funding.
The North East Venture Fund (NEVF), which is supported by the European Regional Development Fund and managed by Mercia, made the investment.
The funding will allow the company to build its management team and speed up development of the product.
Founded by Rob Todd, ATM Security has develpoped a system that removes the need for a traditional lock and key. It allows utility companies to control access to all their sites from one central point while allowing entry to approved maintenance workers, who simply ‘unlock’ the gate using their mobile phone.
Upon each visit, the system will first verify the worker’s identity using biometric features such as fingerprints, then switch off the alarm and track the time they spend on site. The system does not require a data network to connect it to the central point which makes it ideal for remote sites and access can be revoked at any time.