Sensor Dynamics AG, a PRESS RELEASE
Sensor Dynamics AG, a
SensorDynamics, a fast-growing company that focuses on innovative micro and wireless sensor products for automotive and industry applications, today announced that it has raised EUR25 million ($37 million) in Series B equity funding and structured leverages. The Series B round was funded by a consortium of investors that included SensorDynamics' Series A investors, Global Equity Partners with HTA III Venture Beteiligungs-Invest AG, Siemens Venture Capital, DEWB and three new Series B investors, PONTIS Venture Partners with PVP I fund, FIDURA Private Equity Funds and IPOAustria with its Steirische Technologie- und Wachstumsfonds.
Funds will be used to further the market penetration of SensorDynamics' leading edge micro and wireless silicon products, to expand international sales and to bolster the company's engineering and production team. In a company statement, Herbert Gartner, CFO of SensorDynamics, commented: “We are delighted with the commitment from our investors and are keen to leverage their experience to broaden our international operations. We are busy putting expansion plans against long-term customer product revenues and this financing round will clearly support our efforts.”
Uwe Albrecht Managing Partner at Siemens Venture Capital stated that: “Since our initial investment, SensorDynamics has established itself as a prominent provider of sensing and wireless technology to the automotive and consumer industries. We are excited to take the company to the next stage with this new investment.”
“Taking part in the Series B funding round and acquiring first stakes in SensorDynamics, we are continuing our strategy to invest in innovative, growth-oriented, mid-sized companies with technological leadership, strong upside potential and manageable risk“, outlines Klaus Ragotzky, Managing Partner of the issuing house FIDURA Capital Consult, Munich. Gerald Schaufler, Funds Manager at PONTIS Venture Partners adds: “The strong experience of the SensorDynamics management team in the fields of semiconductors and sensors, combined with long term strategic partnerships with world class companies such as Fraunhofergesellschaft, ST, TSMC or ASE will boost the technological leadership of SensorDynamics in the near future“.
SensorDynamics is a fast-growing semi-fabless semiconductor company that focuses on innovative sensor solutions for high volume applications in automotive and industry. SensorDynamics develops and supplies fail-safe micro and wireless semiconductor sensor systems mainly for automotive key accounts and is certified under TS16949. The company acts as a general contractor and cooperates closely with worldleading suppliers of manufacturing and testing technologies. Headquartered in