Unique Solutions Design, a developer of body scanning technology, has closed on a first tranche of a $30 million investment from Toronto-based Northwater Capital‘s Intellectual Property Fund. The money will help Unique Solutions Design roll out its body scanning kiosks, which are designed to measure the body while fully clothed.
Unique Solutions Design Ltd., developer of innovative body fit solutions and technologies, announced that it has received the first tranche of a $30 million investment from Toronto-based Northwater Capital’s Intellectual Property Fund. The investment will be used to support the company’s continued growth in North American markets and provide funding for an aggressive rollout of over 300 body scanning kiosks which will be installed at large shopping centers and other high-traffic venues.
Unique Solutions holds the exclusive license for the only body scanning technology to measure the body while fully clothed. Unique’s highly acclaimed apparel size-matching service (http://www.mybestfit.com/news/33) which premiered at the King of Prussia mall in Pennsylvania has been a dream come true for consumers by making shopping easier. In addition to body measurement technology expertise, Unique holds the largest and most comprehensive database of body measurements. The application of the technology, and subsequent aggregate data, will have far reaching impact in the development of products and services that require accurate body size data.
“Northwater’s investment will allow us to rapidly deploy our ground breaking new shopping service,” said Tanya Shaw, CEO of Unique Solutions Design Ltd. “Since the widely reported success of our King of Prussia location, both shopping mall operators and consumers from across the country have been pressing for the opening of more kiosk locations. This investment provides an aggressive expansion opportunity.”
Prior investors in Unique Solutions include NSBI Venture Capital and U.S. and Canadian private investors. Unique Solutions is headquartered in Nova Scotia with offices in California.
ABOUT UNIQUE SOLUTIONS DESIGN LTD.
Unique Solutions Design Ltd has provided innovative body fit solutions since 1994. We develop and commercialize advanced body measurement technologies and maintain the largest database of body measurements that accurately reflects the real size and shape of people. The company’s proprietary technology yields aggregate data and body measurement information that readily translates into better fitting products and services. This provides added value to multi-billion dollar industries including health and fitness, sports and fashion. For more information, please visit www.uniqueltd.com.
ABOUT NORTHWATER INTELLECTUAL PROPERTY FUND
Northwater Intellectual Property Fund is managed by Northwater Capital Management Inc., a leading, privately held, investment management company. With offices in Toronto, New York and Chicago, Northwater focuses on investments in intellectual property and intellectual property rich companies. The fund is diversified across industry sectors, geographies and the capital structure. The fund’s objective is to combine leading intellectual property and world-class management to generate excess returns.