TC50: iTwin allows encrypted, cableless file-sharing

iTwin, one of the startups launching at the TechCrunch50 conference in San Francisco today, is a hardware product that wirelessly allows two computers to share encrypted data from anywhere in the world. The founders call it a “cableless cable” because it connects two computers, without an actual cable.

You plug in one half to one computer and the other to another computer. After it syncs a private key, you can share files between machines even if one part of the pair is on the other side of the world. The founders say there’s no need to download software, configure settings or use a log-in ID.

If you lose the device, you can text iTwin to turn off the other half or you can set a password between the two. The company gets around company firewalls by sending the encrypted data through iTwin’s back-end.

The company’s planning to retail the device for $99. It has seven employees and is part of the Singapore government’s research arm. It’s looking for investments to spin it off as a separate company.

Investor feedback

Ron Conway, angel investor: I would consider it if they had some distributors.

George Zachary, Charles River Ventures: I would want to learn more about the intellectual property behind it.

Jason Hirschhorn, chief product officer at MySpace: Cool technology. Retail’s tough.

Click here for more startup news coming out of the TechCrunch50 conference today.