Passport Systems develops nuclear threat detection technology based on nuclear resonance fluorescence (NRF), a technique invented by MIT Professor and company founder William Bertozzi. Its technologies are applied to automatically identify sea, air and land cargo contents in a fraction of the time required by other systems. The company has completed the design, construction and test of a full‑scale cargo scanner prototype deploying its advanced primary and secondary screening technologies. Passport Systems was founded in December 2002 and is based in Billerica, MA. The company has previously received more than $45 million in government and private funding and recently raised additional venture capital. Current financial disclosure shows a $20.86 million venture capital raise recorded in an SEC filing. Passport Systems is an early-stage company with a proprietary technology developed at MIT for non-invasively scanning large cargo containers for dangerous and undesirable materials. The company estimates that its systems, when perfected, will be able to examine a shipping container in several minutes with a high degree of accuracy. It says this would offer a significant improvement over current x-ray technology. Passport Systems is based in Acton, Massachusetts. The company has completed a Series A financing involving Commons Capital and co-investors Topspin Partners, Shiprock Associates and Critical Technology. Website listed as www.passportysystems.com.

Total raised

$21M

Funding rounds

2

Latest round

Equity

Latest activity

Jun 2013