Marlborough firm raises $8M
A Marlborough-based manufacturer of solid-state silicon motion sensors has raised $8 million in capital to execute its development of sensor products for high-end markets.
Qualtre Inc.’s Series E investment includes both a new strategic investor as well as previous investors Matrix Partners and Pilot House Ventures. The new investor doesn't wish to be identified at this time, according to Qualtre President and CEO Edgar Masri.
Qualtre is working with Alps Electric of Japan to launch its final product, a lower-cost motion sensor for the industrial market that is highly resistant to vibration and shock. Alps invested $3 million in Qualtre in June 2013.
Previous investment rounds have raised $30 million in equity and $6.3 million of debt, Masri said. The company was founded in 2008.
“Qualtre is uniquely positioned to enable the next generation of senor-based applications like location-based services, driver-assisted vehicles and the Internet of Things due to the combination of our disruptive…technologies and our highly skilled engineering team,” Masri said in a statement.
Qualtre believes the market for its product is growing faster than that of the overall semiconductor industry, and said last year that the market for these sensors should top $4 billion by 2015.
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