Rho Canada, Build Ventures and GrowthWorks lead $3.9 mln funding of Smart Skin Technologies
Smart Skin Technologies, a provider of technology solutions to bottling and packaging companies, has secured $3.9 million in Series A financing. The round was led by Canadian venture capital firms Rho Canada Ventures, Build Ventures and GrowthWorks Atlantic Venture Fund, with the participation of existing backers East Valley Ventures, New Brunswick Innovation Foundation and several angel investors. The funding, which builds on the $1.5 million previously invested in the Fredericton, New Brunswick-based Smart Skin, will accelerate product development and service more customers. According to the company, North American and European businesses have been increasingly deploying its Smart Skin Technologies’ Quantifeel™ DRONE, a hardware and software solution that measures pressure and ensures efficient production.
