Superior Sensor Technology, a developer of advanced pressure sensors for industrial, HVAC and medical equipment, today announced it has secured $4.5 million in funding led by 40 North Ventures, a venture capital subsidiary of Standard Industries Group. This additional funding will provide growth capital to add resources to its marketing and sales efforts while accelerating its product development road map.
Superior Sensor Technology was founded in 2016 with the objective to develop cost-efficient, high-performance pressure sensor solutions that enhance performance, reduce system design complexity, and lower manufacturing and installation equipment costs. Using its proprietary NimbleSense™ architecture, the company is setting a new standard of performance for pressure sensors that has resulted in numerous design wins with major industrial, HVAC and medical equipment manufacturers.
"There has been a broad-based acceptance of this new technology across all geographies, with new designs underway using our HV-Series and SP-Series pressure sensor products," said Jim Finch, CEO of Superior Sensor Technology. "This new round of funding will enable us to better support our growing customer base with the development of advanced pressure sensing solutions for a broader range of applications and increase our marketing, sales and application resources to support this larger product offering for next-generation equipment."
"Superior Sensor Technology was the first company to demonstrate the system performance advantages of applying an innovative, fresh technology perspective to the pressure sensing market. As a company deeply entrenched in the industrial commercial market, we believe Superior Sensor Technology has a unique opportunity to become the undisputed leading supplier of pressure sensing solutions into this space," said Marc van den Berg, General Partner of 40 North Ventures.
About Superior Sensor Technology:
Superior Sensor Technology was established with the objective to revolutionize the high-performance, cost-driven pressure sensor market by developing integrative, high-performance cost-efficient solutions for industrial, HVAC and medical applications. The company's technology is based on a proprietary platform, called NimbleSense™, which significantly improves overall sensor performance while adding proprietary application-specific system features. Superior Sensor Technology was founded in 2016 and is based in Santa Clara, California.
About 40 North Ventures
40 North Ventures, LP is a $200 million venture fund based in California and related to Standard Industries, a privately held, global, diversified industrial company with interests in building materials, including the world's largest roofing and waterproofing manufacturer. 40 North Ventures provides investors with the opportunity to realize long-term capital appreciation from investments in early- through late-stage venture deals with a focus on emerging technologies in the industrial space.
Website: SuperiorSensors.com
Media Contacts:
Superior Sensor Technology
Catherine Batchelor
catherinebatchelor@me.com
208-634-9472
40 North Ventures
Harrison Vail
Standard Industries
Harrison.Vail@StandardIndustries.com
40NorthVentures.com
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Original Source: Superior Sensor Technology Closes $4.5 Million in New Funding
