The Woodbury maker of a satellite anti-robbery and recovery system for banks got a $500,000 investment from Connecticut, authorities say.
Four-year-old Tactical Awareness Beacon Systems (TABS) procured the funds from Connecticut Innovations Inc., the state’s quasi-public technology investment arm.
TABS founder and CEO Dean Sarjeant said the money will enable it to continue to refine and roll out its initial ShadowCash product.
ShadowCash is a tiny, digital, homing device tucked into money stacks in bank tellers’ and retailers’ cash drawers, and automated teller machines that, when activated, can be used via global positioning systems to track in real time the robber and/or the stolen money, authorities said.
Sarjeant claims his product is more reliable and less costly than traditional exploding dye packs and other anti-theft systems.
