In-Q-Tel invests in CoreStreet
- By Nick Wakeman
- Mar 25, 2008
In-Q-Tel, the intelligence community's investment arm, is putting funds into a company that makes a new type of access control system.
The undisclosed amount is going to CoreStreet Ltd. of Cambridge, Mass. The company is developing card-connected technology for access systems. The technology uses cryptography to extend central access control to stand-alone doors and mobile locks, said Chris Broderick, chief executive officer at CoreStreet.
The electronic locks and physical-access control systems communicate by reading and writing digitally signed data to and from smart cards, the company said in a statement.
In-Q-Tel was founded by the CIA and is an independent strategic investment firm. It invests in technologies that have the potential to support national security and intelligence missions.
"CoreStreet is a critical addition to our strategic investment portfolio for security technologies," said Ben Levitan, a partner at In-Q-Tel.
Nick Wakeman is the editor-in-chief of Washington Technology. Follow him on Twitter: @nick_wakeman.