Extra funds enable sensor expansion
A
Loadstar Sensors product story
Edited by the Engineeringtalk editorial team
Jan 25, 2007
Loadstar Sensors has completed a US $7 million dollar Series B financing, raising more than twice the amount it originally sought.
Loadstar Sensors, a leading designer and manufacturer of capacitive sensors, announced that it has completed a $7 million dollar Series B financing, raising more than twice the amount it originally sought.
The Series B financing was led by AIG SunAmerica Ventures based in Los Angeles, California.
The other institutional investors participating in this round are Dali Hook Partners and Needham Capital Partners.
"Loadstar Sensors is well positioned to have a significant impact on the multi billion dollar load cell market with its capacitive sensing technology", said Troy Fukumoto of AIG SunAmerica.
"We have had prior success with disruptive technologies entering the industrial markets", said Paul Dali of Dali Hook Partners.
"Loadstar's approach appealed to us because it enables smaller, less expensive, higher accuracy, feature rich smart sensors as compared with those that are currently available in the market".
Troy Fukumoto of AIG SunAmerica and Paul Dali of Dali Hook Partners have joined the Board of Directors of Loadstar Sensors.
The terms of the financing were not disclosed.
"We welcome our new board members and investors and look forward to their enthusiastic support in realising the full potential of our innovation", said Div Harish, the CEO and cofounder of Loadstar Sensors.
Loadstar Sensors plans to use the funds to expand the team, build new products and initiate significant sales and marketing activities.
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