On 6th March 2008, Sidsense Corp. announced an investment deal worth $6 million. The company informed that it was going to receive this huge funding from four companies, namely, Tech Capital Partners, Vertex Venture Capital, NTT Finance Corp. and Trellis Capital.
The most recent business deal of Sidsense Corp. was announced on 6th March 2008. The announcement revealed that, Sidsense Corp. was going to make an investment deal worth $6 million.
Company Profile of Sidsense Corp.
Sidsense Corp. provides non-volatile memory IP chores. It also develops applications like electrical fuse replacement, key storage, code storage and digital rights management. Sidsense Corp. has sales offices in different countries like France, Japan, USA, Korea and Israel.
Details of the Deal
Sidsense Corp. was going to receive this huge fund by entering into an investment deal with four companies. The company informed that, its’ venture capital financing round was led by Vertex Venture Capital, a venture capital firm of Israel along with Tech Capital Partners, a venture capital firm of Canada.
Two more companies participated in this investment deal, namely, NTT Finance Corp. and Trellis Capital. These two companies invested in Sidsense Corp. for the first time through this investment deal.
Sidsense Corp. has decided to use the funds, raised through the investment deal, in expanding the sales operations and marketing operations of the company to the global level.
In respect of this investment deal, Robert Genieser, Managing Partner, Vertex Venture Capital, stated that, Vertex Venture Capital decided on investing in Sidsense Corp. as Sidsense has a record of strong revenue growth and possesses a large customer base.
Another investor company, Tech Capital Partners, informed, that, in order to survive competition, every company in the semiconductor industry was trying to reduce cost and Sidsense Corp. was able to do that. Sidsense introduced a way of increasing the memory density at a cost level, which was much lower than the competitor firms.
On the other hand, Xerxes Wania, CEO, Sidsense Corp., opined that, Sidsense has already developed an efficient sales infrastructure and after this investment deal, it would be able to promote its products and technology on a global level.