McRock iNFund LP, an Industrial Internet of Things (IIoT) venture capital fund managed by McRock Capital, has added BDC Capital to previously announced $4 million Series A financing in Toronto-based biometric access security firm Invixium.The fund noted that since Invixium's inception three years ago, that the company has sold over 3,500 products to government and blue chip industrial companies with rugged security requirements in the Middle East, North Africa, India and North America.”As the world adopts much needed biometric security solutions, the importance of a trusted 'Made in Canada' brand is a significant advantage for Invixium,” said Shiraz Kapadia, Founder and CEO at Invixium. “Adding the Business Development Bank of Canada as a shareholder through an investment from BDC Capital provides our company with significant financial backing and business resources to accelerate our growth in global markets.””Our goal in backing an expert venture capital fund like McRock, is to partner with high-potential Canadian start-up companies in rapidly emerging sectors like the Industrial Internet of Things to accelerate their success,” stated Jerome Nycz, EVP at BDC Capital. “As a significant investment partner of McRock, this coinvestment in Invixium demonstrates our combined ability to provide expert and financial resources to enable Invixium to succeed and compete on the global stage.””The opportunity for advanced biometric security devices and solutions for the industrial and enterprise markets is massive given the growing concern and need to secure physical assets and facilities”, stated Tony Van Bommel, Senior Managing Partner of the Industrial, Clean and Energy Technology Venture Fund at BDC Capital. “Invixium has developed a beautifully designed hardware security product that incorporates leading software functionality to deliver a superior solution”.

Also in the news:

Default ThumbnailSensibleVision’s 3D solution targets racial bias Default Thumbnail'Quantum biometrics’ exploits eye’s ability to detect photons Default ThumbnailSheriff’s office to trial footprint database