January 24, 2007 - Loadstar Sensors announced that it has completed a $7 million dollar Series B financing, raising more than twice the amount it originally sought.The Series B financing was led by AIG SunAmerica Ventures based in Los Angeles, CA. The other institutional investors participating in this round are Dali Hook Partners and Needham Capital Partners. “Loadstar Sensors is well positioned to have a significant impact on the multi billion dollar load cell market with its capacitive sensing technology.” said Troy Fukumoto of AIG SunAmerica.
“We have had prior success with disruptive technologies entering the industrial markets,” said Paul Dali of Dali Hook Partners, “Loadstar’s approach appealed to us because it enables smaller, less expensive, higher accuracy, feature rich smart sensors as compared to those that are currently available in the market.”Troy Fukumoto of AIG SunAmerica and Paul Dali of Dali Hook Partners have joined the Board of Directors of Loadstar Sensors. The terms of the financing were not disclosed. “We welcome our new board members and investors and look forward to their enthusiastic support in realizing the full potential of our innovation," said Div Harish, the CEO and Co-Founder of Loadstar Sensors.
Loadstar Sensors plans to use the funds to expand the team, build new products and initiate significant sales and marketing activities. About Loadstar Sensors, Inc. Established in 2004, Loadstar Sensors, Inc. is a leader in the design and manufacture of capacitive sensors for the automotive, aerospace, medical device, and industrial applications.
