Smart Skin Technologies, a Fredericton, Canada-based provider of a hardware and software solution for bottling and packaging companies to precisely and real-time measure pressure on production lines, raised $3.9m in Series A funding.
The round was led by Rho Canada Ventures, Build Ventures and GrowthWorks Atlantic Venture Fund with participation from earlier investors East Valley Ventures, the New Brunswick Innovation Foundation and other angel investors.
The company intends to accelerate product development and expand its sales and marketing presence.
Founded in 2009 by founder and CEO Kumaran Thillainadarajah, Smart Skin has developed a patented solution that measures pressure through an artificial touch-sensitive film, providing large-scale operators with precise, real-time measurement on the production line. It has already been adopted by top beer brands, food producers and packaging and container companies.
The company previously raised $1.5m from New Brunswick-based investors.
FinSMEs
17/01/2014