Loadstar Sensors Receives $1 Million in Series A Financing
Released on = January 9, 2006, 11:07 am
Press Release Author = Phaze-9 Corporation
Industry = Computers
Press Release Summary = Sensors, Inc., a leading designer and manufacturer of capacitive sensors, announced that it has completed a $1 million Series A financing.
Press Release Body = Key investors leading this round are Jeff Drazan - Managing Director at Sierra Ventures, and Bill Harris - the former CEO of PayPal and Intuit. Other investors participating in the financing include Annex Ventures, United Investors Group and other private investors from Silicon Valley.
"Loadstar Sensors has created an innovative new technology that can address the needs of a wide range of industries and existing multi-billion dollar markets globally." said Jeff Drazan. "We were impressed by the passion and dedication of the founding team and are excited to help them take their company to the next level."
Jeff Drazan and Bill Harris have joined the Board of Directors of Loadstar Sensors. The terms of the financing were not disclosed.
"In a short period of time, we have developed innovative products, protected our intellectual property and generated revenue from customers who have enthusiastically adopted our capacitive load measurement technology. We are excited to have gained the support of such prestigious and experienced investors to help us build on this early momentum and rapidly penetrate the marketplace.\" said Div Harish, the CEO and Co-Founder of Loadstar Sensors, Inc.
Loadstar Sensors, Inc. plans to use the funds to hire key team members, build a series of new products and implement significant sales and marketing activities.
About Loadstar Sensors, Inc. Established in 2004, Loadstar Sensors, Inc. is a leader in the design and manufacture of capacitive sensors for automotive, aerospace, medical device and industrial applications. We currently sell capacitive load sensors that offer high sensitivities in a easy to use, mechanically robust, low profile package at an unprecedented price. We enable inventors and designers to incorporate our sensors into mass market products where available load measurement solutions were neither economically feasible nor reliable. Our strategy is to partner with leading players in specific markets to develop and introduce innovative products that create significant value for our customers.
For more information, please visit: http://www.loadstarsensors.com
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