Michael Sears of Siemens Venture Capital will join the board of Sensys.
Sensys Networks, a US-based provider of integrated wireless traffic data systems for smart cities, has raised $8.5m in its series C round from a consortium led by Siemens Venture Capital (SVC), the corporate venturing unit of Germany-based industrial conglomerate Siemens.
Existing investors, venture capital firms Fuse Capital, Horizon Ventures, Voyager Capital and Gruener Ventures, also reinvested in Sensys. According to a regulatory filing, Sensys raised $5.1m in 2008, including from Siemens and ComVentures, and $4m in 2005.
Ralf Schnell, chief executive of SVC, which has invested more than €800m ($1bn) in over 150 companies and 40 venture capital funds, said: "There is a huge pent-up demand for traffic data internationally and we only invest in market leaders with tremendous growth potential. Sensys Networks has the products to unlock that potential, and it is a perfect addition to our portfolio."
Michael Sears of SVC will also join the board of Sensys.
Amine Haoui, chief executive of Sensys Networks, said: "This capital will allow Sensys Networks to accelerate growth domestically and internationally, and maintain our product and technology leadership in wireless sensor networking for the transportation industry."
