LOS ANGELES--(BUSINESS WIRE)--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.
Mojix (Twitter:@MojixInc) is the global leader in wide area sensor networks. Mojix couples heterogeneous data sources with cloud based analytics and reporting to deliver high value applications to customers around the world. Mojix works with leading retailers to enable real time hands free inventory, with large scale data centers to locate and track servers, with hospitals to track records, equipment, and patients, with oil and gas companies to locate and track people and equipment, and with manufacturing companies to track and manage work flow and floor inventory. Mojix is headquartered in Los Angeles, with offices in Frankfurt, Germany, Asia and the United Arab Emirates. Visit www.mojix.com for more information.
OMERS Ventures (Twitter:@OMERSVentures) is the venture capital investment arm of OMERS, one of Canada's largest pension funds with $72 billion in net assets. It is an initiative of OMERS Strategic Investments (OSI), a multi-purpose investment platform designed as a catalyst for exploring, testing and developing new investment initiatives. As both an institutional angel investor and a later-stage investor, OMERS Ventures is looking for successful companies with significant growth potential and market opportunities. We are seeking like-minded partners with a shared vision of building a vibrant and successful knowledge economy.
Oak Investment Partners
Oak Investment Partners is a multi-stage venture capital firm with a total of $8.4 billion in committed capital.
Mercury Partners is a privately-held investment firm.