August 27, 2005
Sensicore Raises Additional $12M
ANN ARBOR, MI. August 26, 2005 – Sensicore, developer of revolutionary lab-on-a-chip multi-sensor devices and Internet-based information systems for water testing and real-time monitoring, announced it completed a $12 million Series C round of investment. The investment syndicate includes some of the leading venture capitalists in the water and Cleantech sectors, including: Ardesta, LLC (Ann Arbor, MI); Firelake Capital (Palo Alto, CA); NGEN Partners, LLC (Santa Barbara, CA); Technology Partners, LLC (Palo Alto, CA); and Topspin Partners (Roslyn Heights, NY).
"We are very pleased with the overwhelming support from our investors," notes the Company’s President and CEO, Malcolm Kahn. "In addition to their financial support, the Company has significantly benefited from their help with strategic direction and networking activities. We look forward to building a significant water quality testing and information services business with the help of this world class group of entrepreneurs and investors."
Ira Ehrenpreis, General Partner at Technology Partners, is leading its venture firm’s effort in water and energy technology investments. "The investors continue to be very excited about the Sensicore opportunity," said Mr. Ehrenpreis. "The Company’s disruptive technology is effectively addressing the burgeoning water market by providing water quality data that can be translated into timely, actionable information."
The Company will use the investment proceeds to support working capital needs associated with its rapid growth plans, for market and product expansion, and for automated manufacturing equipment.
Contacts for additional information:
Malcolm Kahn, Sensicore, Inc., 755 Phoenix Drive, Ann Arbor, MI 48108
Phone: (734) 528-6309 Fax: (734) 528-6325
Email: malcolmkahn@sensicore.com
Web: www.sensicore.com
About Sensicore, Inc.
Based in Ann Arbor, Michigan, Sensicore's innovative micro-sensor research has successfully developed a lab-on-a-chip multi-sensor device for testing and real-time monitoring on a wide variety of water and wastewater applications including potable water, wastewater and environmental monitoring as well as industrial process control. The core technology uses a disposable silicon-based chip the size of a small button to chemically profile the purity and surety of water in less than 4 minutes. Combined with a smart handheld system, the chip provides 14 critical water quality measurements that help users understand the health of their water and their water infrastructure. Sensicore has also developed an Internet-based information and monitoring service that helps municipal and industrial customers both visualize and manage their test data and information. This new service, called WaterNOW will be introduced in the fourth quarter of 2005 and is expected to save customers significant amounts of money, while providing actionable real-time monitoring of water quality and infrastructure operations. www.sensicore.com.
About Ardesta
Through its creation of and investment in some of the leading companies in the emerging fields of MEMS, microsystems and nanotechnology, Ardesta has established a leadership position in Small Tech. Ardesta has created a broad network of leading researchers, entrepreneurs and industrial customers that enable it to serve as an important bridge between the Small Tech research world and the macro world and to bring Small Tech products to the global marketplace. www.ardesta.com
About Firelake Capital
Firelake Capital invests in public and private companies at the edge of technology in communications, energy technology, and advanced materials. The Fund’s focus is on emerging technology markets, looking out over a long time horizon, investing in businesses with the management talent and experience, intellectual property, and market strategy to build a large company. The Fund invests in both small cap public technology companies as well as in private company investments. www.firelakecapital.com
About NGEN Partners LLC
NGEN is a venture capital fund dedicated to identifying and nurturing emerging companies that address large market opportunities in the materials and enabling technologies fields. Based in Santa Barbara, CA, the fund is engineered to support portfolio companies in accelerating product development progress. The fund’s limited partners include Air Products and Chemicals, Asahi Glass Company, BASF, Bayer, BHP Billiton, Boeing, Canon, DSM, Dupont, Henkel, Honda, Macquarie, Schott Glas, Siemens, CDP Capital – Technology Ventures, and Unilever. www.ngenpartners.com
About Technology Partners
Technology Partners is a 20-year venture capital firm that manages more than $400 million of investment capital with current investments being made from Technology Partners Fund VII. The firm serves principally as a lead investor and business adviser to technology-based ventures. Technology Partners has invested in over 60 companies in a variety of industries. The majority of investments are in early stage companies. The firm invests approximately half of its capital in Cleantech companies and the other half into companies focused on the Life Sciences. Within Cleantech, Technology Partners focuses on Water Technology, Energy Technology, and Materials Science opportunities. www.technologypartners.com
About Topspin Partners
Topspin Partners is a $213M venture capital and private equity firm based on Long Island and is the successor fund to the Long Island Venture Fund, a successful venture capital fund which began investing in 1995. The Fund invests in companies with outstanding and experienced management teams with very large addressable markets. Topspin generates superior returns by partnering with portfolio company management teams to build great companies.
www.topspinpartners.com
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