Company with a camera that sees through walls gets $14 million

Camero, a company out of Israel that has developed a camera that can "see" things through solid walls, has raised $14 million, bringing the total is has raised to $20 million.

The investment comes about four months after it showed off a prototype of the Xaver800 and began to sell systems to customers. Investors include Greylock Partners, Motorola Ventures and Walden.

The Xaver800 doesn't technically capture images directly. Instead, it issues ultrawideband signals and the data harvested is then used to create 3D models of things the signals bounced off of. The trick is that the camera can capture the signals in cluttered environments or through solid objects. Researchers at U.S. universities are working on similar projects.

The camera is only sold to military and police agencies.

Camero's work typifies the state of the growing high tech industry in Israel. While some multinationals have come out of the country, the local industry thrives mostly on scads of start-ups with relatively futuristic technologies, often associated with the military.

As a result, it's one of the places on the globe where the IPO is still a big deal. Last year, 20 Israeli companies held public offerings. More tech IPOs occurred in the U.S. but the U.S. is also bigger. Seventy six local companies got merged or acquired. The total value of mergers came to $10.6 billion, according to the Israel Venture Capital Research Center.