10 May 2007 -- Loadstar Sensors, a leading designer and manufacturer of capacitive sensors, announced that it has completed a $1 million Series A financing. Key investors leading this round are Jeff Drazan - Managing Director at Sierra Ventures, and Bill Harris - the former CEO of PayPal and Intuit. Other investors participating in the financing include Annex Ventures, United Investors Group and other private investors from Silicon Valley.
'Loadstar Sensors has created an innovative new technology that can address the needs of a wide range of industries and existing multi-billion dollar markets globally'. said Jeff Drazan. 'We were impressed by the passion and dedication of the founding team and are excited to help them take their company to the next level'.
Jeff Drazan and Bill Harris have joined the Board of Directors of Loadstar Sensors.
The terms of the financing were not disclosed.
'In a short period of time, we have developed innovative products, protected our intellectual property and generated revenue from customers who have enthusiastically adopted our capacitive load measurement technology.
We are excited to have gained the support of such prestigious and experienced investors to help us build on this early momentum and rapidly penetrate the marketplace'. said Div Harish, the CEO and Co-Founder of Loadstar Sensors Loadstar Sensors plans to use the funds to hire key team members, build a series of new products and implement significant sales and marketing activities.
