CIBC Innovation Banking lends $4.6 mln to VC-backed Invixium
CIBC Innovation Banking has provided $4.6 million (US$3.5 million) of debt financing to Invixium, a Toronto-based maker of biometric solutions for access control and workforce digitalization. The company will use the proceeds to support its growth plans. Founded in 2012 by CEO Shiraz Kapadia, Invixium develops biometric security solutions utilizing face, finger vein and fingerprint recognition. It serves a range of enterprises and industries for indoor and outdoor deployment in rugged environments. Earlier this year, Invixium raised a Series B financing led by Connecticut Innovations and joined by existing investors McRock Capital and BDC Capital. CIBC Innovation Banking is the technology lending arm of CIBC.
30 July 2019•3 mins read
