Superior Sensor Technology Closes $4.5 Million in New Funding
SANTA CLARA, Calif., April 30, 2020 (Newswire.com) - Superior Sensor Technology, a developer of advanced pressure sensors for industrial HVAC, medical and automotive equipment, today announced it has secured $4.5 million in funding led by 40 North Ventures - an early-to-growth stage fund focused on technology investments in the industrial sector. This additional funding will provide growth capital to add resources to Superior Sensor Technology's 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 NimbleSenseTM architecture, the company is setting a new standard of performance for pressure sensors that has resulted in numerous design wins with major HVAC and medical equipment manufacturers.
"There has been nothing short of a worldwide proliferation of new designs using our HV-Series and SP-Series pressure sensor products for HVAC and medical equipment in a short period of time in these very competitive markets," 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," said Marc van den Berg, Managing Director of 40 North Ventures. "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."
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, medical and automotive applications. The company's technology is based on a proprietary platform, called NimbleSenseTM, that 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, CA.
About 40 North Ventures
40 North Ventures is an early-to-growth stage venture capital fund focused on technology investments in the industrial sector. 40 North Ventures is part of 40 North, a multi-billion-dollar related investment platform of Standard Industries, a leading, privately-held global industrials company with 130 years in the industrial space and more than 180 manufacturing facilities spread across 80 countries and six continents.
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