Tech Leaders Invest in CrossbowAugust 1, 2005 By: Barbara G. Goode, Sensors Sensors
Crossbow Technology, Inc. (www.xbow.com), 2005 Best of Sensors Expo award winner, end-to-end supplier of wireless sensor networks and inertial systems, and manufacturer of "smart dust" wireless sensors, has reached technology collaboration agreements and received investments from Cisco Systems and Intel. Crossbow has also secured a significant investment from Paladin Capital Group, to bring this round of capital investment to $12 million.
"Crossbow has been profitable since 2002, and this additional working capital will help us expand both our international operations and the company's research and development programs," says Crossbow President and CEO Mike Horton. In addition to the investments, Crossbow will have technology collaboration projects underway with Cisco and Intel, Horton adds.
Intel originally invested in Crossbow in 2002. "Intel Capital's investment in Crossbow represents our confidence in the growth of wireless sensor network technology," said David Tennenhouse, Vice President, Corporate Technology Group and Intel's Director of Research. "We're pleased to expand our cooperation with Crossbow and continue to develop Intel XScale technology in wireless sensor networks."
This is the first investment in Crossbow that Paladin Capital Group and Cisco Systems have made. "The work [Crossbow is] doing extends Cisco's vision for the Intelligent Information Network to the almost countless number of objects that will require wireless sensor technology," says Dave Rossetti, vice president, strategic software technology, Cisco Systems.
Paladin's $235 million Homeland Security Fund is focused on existing companies with immediate solutions to address homeland security issues and needs.
Most Read Articles