Data-storage and security startup Clover Communications has secured $10 million in its first financing round.
Genesis Partners led the round with a $5.5 million investment. Other investors include the Bank of Boston, the Industrial Development Bank of Israel and Cohen Development, which is traded on the Tel Aviv Stock Exchange and invested through subsidiaries.
Cloverleaf's applications are for civilian uses. Its technology development began under the wing of a military company, however ELTA Electronic Industries, an offshoot of the Israel Aircraft Industries. ELTA develops radar and intelligence systems, as well as airborne early-warning systems.