MOJIX

Mojix Raises US$14M Series D Round

Press Releases | By MOJIX | 17 April 2015

To Realize Vast Potential of Wireless Sensor Networks & Internet of Things is the goal

Mojix, the global leader in wide area sensor networks, today announced the completion of its $14 million Series D financing round. OMERS Ventures, the venture capital arm of the OMERS pension fund, led the round. Mercury Ventures, as well as all previous investors, also participated in the round. As a result of the round, Rainer Busch, Managing Partner, Mercury Ventures, Kent Thexton, Managing Director, OMERS Ventures, and Bandel Carano, Managing Partner, Oak Investment Partners, will be joining the Mojix Board of Directors.

"OMERS Ventures looks for companies that have built a competitive advantage in markets that are set for sustained growth. With worldwide patents and intellectual property supporting its leading position in the wide area sensor market and burgeoning Internet of Things (IoT) space, along with the strong, operationally-focused team assembled by its CEO, Dr. Ramin Sadr, Mojix has positioned itself for success. I am proud to be joining the board, and I look forward to working with other directors to help Mojix reach the next level in its development,” Thexton said.

"Moijx's STAR (Space Time Array Receiver), first introduced in 2008, ignited a paradigm change for the RFID industry, enabling detection and location tracking of extremely weak signals for passive sensor networks. Key signal processing breakthroughs, now patented, enable the STAR's performance to reach the theoretical limits set by the laws of physics, yielding almost a million-fold improvement over legacy receiver technology. The support from OMERS Ventures, Mercury, and Oak, along with our other investors, will allow us to introduce game-changing software solutions for IoT applications that unleash the business value of wireless sensor networks enabling the agile enterprise," said Dr. Ramin Sadr, founder and CEO of Mojix.

Last modified on Friday, 17 April 2015 14:45
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