Sensys Networks lands $8.5 million in funding

Sensys Networks, a leading provider of integrated wireless traffic data systems for smart cities, has raised US$8.5 million in a new round of funding led by Siemens Venture Capital (SVC) with participation from existing investors Fuse Capital, Horizon Ventures, Voyager Capital and Gruener Ventures. SVC’s Michael Sears will also join the board of Sensys Networks. Describing the funding as an important milestone for the company, Dr. Amine Haoui, CEO of Sensys Networks, said, “This capital will allow Sensys Ne
March 2, 2012 Read time: 2 mins
119 Sensys Networks, a leading provider of integrated wireless traffic data systems for smart cities, has raised US$8.5 million in a new round of funding led by 189 Siemens Venture Capital (SVC) with participation from existing investors 3547 Fuse Capital, 3550 Horizon Ventures, 3551 Voyager Capital and Gruener Ventures. SVC’s Michael Sears will also join the board of Sensys Networks.

Describing the funding as an important milestone for the company, Dr. Amine Haoui, CEO of Sensys Networks, said, “This capital will allow Sensys Networks to accelerate growth domestically and internationally, and maintain our product and technology leadership in wireless sensor networking for the transportation industry."
Siemens Venture Capital, located in Europe, Asia and the United States and with more than 150 investments to-date, has been active in the US market since late 90s with a previous investment focus on the traffic management system market.

“We are delighted to be leading this round of financing with Sensys Networks,” says Ralf Schnell, CEO of Siemens Venture Capital, “We believe there is a huge pent-up demand for traffic data internationally and we only invest in market leaders with tremendous growth potential. Sensys Networks has the products to unlock that potential, and it is a perfect addition to our portfolio.”

Sensys Networks has announced what it says is the industry’s first five-year hardware warranty for advanced traffic detection products which will apply to all new shipments to the company’s North American, Australasia, and European customers. The company has also unveiled the Access Point Controller Card (APCC), the newest hardware addition to its VDS240 wireless vehicle detection universal platform. The APCC combines the ‘brains’ of the Access Point with contact closure card functionality — in the cabinet — for maximum detection flexibility and minimal power usage (less than 1W).

“Our first deployment of the APCC in San Francisco at O’Shaugnessy Blvd. and Portola Dr. — a complex intersection with significant elevation differences on heavily trafficked approaches — proved highly successful in controlling the hilly intersection in frequently foggy conditions," says Michael Volling, director of product management. “The addition of enhanced communications and data storage capabilities further streamlines hardware requirements, in the street and the cabinet.”
Detection, Monitoring & Machine Vision Classification & Data Collection Networking & Communication Systems

For more information on companies in this article

Related Content

  • Growing use of PC-based systems for urban traffic control
    February 1, 2012
    Siemens Mobility's Mark Bodger discusses the growing use of PC-based systems for urban traffic control. Across the ITS sector, there is a common trend of taking traffic and travel management out of the hands of bespoke solutions, realising the use of common, open-source technologies and solutions and enjoying all the attendant economies of scale and ease of use which that implies.
    Read More
  • DriveCam funding for strategic acquisition
    March 23, 2012
    To continue funding rapid growth and market expansion, DriveCam has entered into a definitive agreement to raise US$85 million in investment capital from Welsh, Carson, Anderson & Stowe XI, (WCAS), a New York-based private equity firm.
    Read More
  • GTT partners with language specialist to further develop international presence
    November 13, 2015
    Traffic priority control and sensing systems specialist Global Traffic Technologies (GTT) is continuing the expansion of its international strategy by establishing a relationship with Sajan, which deploys language services ranging from website translation to software localisation. Sajan has offices in Europe, Asia and Latin America, in addition to a network of thousands of in-country translators around the world, which will enable GTT to provide products and services wherever the need for its offerings e
    Read More
  • Measuring vehicle lengths with a single loop - promising results
    July 27, 2012
    District 7 of Caltrans has been conducting trials to see whether the use of a single inductive loop to measure vehicle lengths and so identify heavy trucks is feasible. So far, the results have been very promising, according to Lead Transportation Engineer Steve Malkson. Between them, the adjoining ports of Los Angeles and Long Beach, the US's two biggest, cover some 10,700 acres (43km2) and 68 miles (109km) of waterfront.
    Read More

Highlighted Content