$10 Million Investment to Boost InforSense Expansion
News Oct 10, 2006
InforSense Ltd. has announced that the Company has received an investment of $10 million led by two of its largest investors – Fleming Family & Partners Private Equity (FF&P) and Imperial Innovations Group plc (Imperial Innovations).
InforSense will use the investment to continue expanding its global footprint, accelerate product developments and additional application initiatives in both its current and new markets.
"We are pleased to have completed this round of strategic fund-raising and are grateful to FF&P, Imperial Innovations, Elaia Partners, Sitka Health Fund VCT Plc and all our other shareholders for their continued support," said Prof. Yike Guo, Founder and Chief Executive Officer of InforSense.
"With these funds, we are well positioned to increase our growth rate and capitalize on the current success of our business."
David Donnelly, CEO FF&P Private Equity, added, "FF&P Private Equity is delighted to continue to support InforSense."
"The investment is in line with FF&P’s philosophy of backing companies and management teams that are successfully delivering innovative technologies and products to the market. The Company is well placed to enjoy success in the years ahead."
"InforSense has shown tremendous growth in the last twelve months, with a rapidly growing customer base," said Susan Searle, CEO of Imperial Innovations.
"We are delighted to be able to support them as they continue that growth with our largest single investment to date."