US-based sensor development company Soneter has raised $6m in funding and agreed a strategic partnership with supply chain logistics company.
The round was led by GRA Venture Fund, the commercialisation arm of the Georgia Research Alliance and a fund that supports start-ups emerging from the US state of Georgia’s universities, and also featured Flextronics.
Soneter’s sensors provide water leak detection, sub-metering and usage information. The new funds will be used for market expansion.
Jeff Leaders, president and chief executive of Soneter, said: “The partnership with the GRA Venture Fund and the strategic partnership with Flextronics will enable us to rapidly advance our offering.”
Mike Dennison, president of Flextronics’ consumer technology group, and Diana Murphy, managing director of the GRA Venture Fund, will join the Soneter board of directors in conjunction with the funding.
Soneter, launched in 2010, is a spin-out of Georgia Tech. It has now raised a total of $8.7m in funding, according to the Atlanta Business Chronicle.