Smart Skin Technologies Inc., a Fredericton, NB-based provider of IIoT productivity solutions, raised $10.7M in funding.
The round was led by BDC Capital’s Industrial Innovation Venture Fund, with participation from Schott AG, Mariner’s East Valley Ventures and the New Brunswick Innovation Foundation.
The company intends to use the funds to expand operations, hiring up to 50 new employees in the next year, and its business reach.
Led by Evan Justason, CEO, and Kumaran Thillainadarajah, founder and CTO, Smart Skin Technologies is a global leader in IIoT productivity solutions. The company’s patented Quantifeel™ solutions combine innovative sensors, deep analytics and artificial intelligence to provide global manufacturers with actionable data on the forces their containers experience during the filling and packaging process.
Smart Skin currently serves 18 of the world’s 20 largest pharmaceutical companies and nearly every major bottling company in the world.