MicroPower Technologies (San Diego), a provider of wireless surveillance platforms for perimeter physical security applications, announced the closing of a $5.7 million round of new equity financing, which will be used to fund expansion of the company's product development, sales and marketing activities.
“The new round of funding comes at a time when our business has developed significant momentum through customer wins, and it will allow us to invest in further enhancements of our technical innovations and go-to-market strategies,” comments Aaron Tankersley, CEO, MicroPower Technologies. “Combined with recent advancements to our product line, the funding puts us in a great position to best serve our existing customers, penetrate new markets and expand operations in the rapidly growing video surveillance market.”
Launched in 2008 and recognized for its innovation in wireless, solar-powered surveillance, MicroPower has deployed solutions globally for customers in a range of vertical markets. The company is a graduate of EvoNexus, the business incubator of San Diego-based high-tech organization CommNexus. According to a press release, this latest financing round will fund new initiatives targeted at enhancing the company's product line, expanding use cases, and increasing industry partnerships.
Related: Technology advancements re-shaping perimeter security market
MicroPower says its wireless surveillance platform delivers the optimal level of pixels on target, defined as the ability to place cameras where necessary without the restrictions and costs associated with wired solutions. To accomplish this, the company designed a completely wireless, power-efficient surveillance camera with integrated solar panels.
The system incorporates proprietary wireless technologies to enhance data transmission even in heavily congested environments. Its wireless structure enables quick installation, as no cabling or trenching is required, reducing installation time by 90 percent over traditional video systems, according to the company. Operating at just one half a watt, MicroPower’s MPT2520 camera was designed as a standalone solar-powered video surveillance camera. It is compatible with video management solutions from Milestone and Genetec.
"MicroPower Technologies is in a great position to leverage this investment to propel future growth and business success,” concludes Jim Brailean Ph.D, managing director, Karmel Capital, and a member of the MicroPower board of directors. “The company has strong leadership, a focused strategy, terrific customer and partner relationships, and significant momentum in its target market. This funding gives MicroPower the resources to capitalize on its assets and realize opportunities for further growth.”
See: Physical security systems integrator credits wireless surveillance, license plate recognition for rapid growth
