Humatics, a US-based microlocation technology, has raised $30m in its series B round from a consortium including multiple corporate venturing units.
Venture capital firm Blackhorn Ventures led the round, with participation by investment bank Tenfore Holdings, family office Fontinalis Partners and corporate venturing units Airbus Ventures, Lockheed Martin Ventures and Sumitomo’s Presidio Ventures.
The $30m will help the company scale its submillimeter milo microlocation system and increase its footprint in the transit industry with its proprietary rail navigation system.
Ray Stata, co-founder and chairman at Analog Devices, said: “Humatics new microlocation chip represents a breakthrough in precise, inexpensive location. It is a core technology that will generate valuable new products for years to come, in manufacturing, robotics, medical, aerospace, and more.”
Humatics has now raised more than $80m. In January 2019, Humatics raised $28m in series A1 funding from investors including industrial technology producer Johnson Controls, conglomerate Sumitomo, defence equipment provider Lockheed Martin and aerospace group Airbus.
The round was led by Tenfore Holdings and included fellow VC firms Fontinalis Partners and Blackhorn Ventures. The corporates invested through subsidiaries JCI Ventures, Presidio Ventures, Lockheed Martin Ventures and Airbus Ventures respectively.
Silicon Valley Bank supplied an undisclosed amount of debt financing as part of the round. Dan Levine, managing partner at Tenfore, has joined Humatics’ board of directors.
The round follows an $18m series A in September 2017 backed by Airbus Ventures, Lockheed Martin Ventures, Presidio Ventures and Intact Ventures, a subsidiary of insurance provider Intact Financial Corporation.
Fontinalis Partners led the 2017 round, which also featured Tectonic Ventures, Blue Ivy Ventures and private investors Ray Stata and Andy Youmans.
