Denmark's Zensys receives major investment for its Z-Wave technology  

2005.08.01
Copenhagen based chip developer Zensys has raised DKK 100 mn in funding from investors including US venture capital firm, Bessemer Venture Partners

Denmark's Zensys, a provider of wireless networking technology for control and status reading applications, has raised DKK 100 mn (USD 16 mn) in funding from a number of investors including US venture capital firm Bessemer Venture Partners, Palamon Capital Partners and the Danish Fund for Industrial Growth.

Zensys is the developer of Z-Wave, a two-way network communication technology which makes it possible to monitor and manage domestic electronics such as climate control systems, alarms and security systems from anywhere in the world. The technology and Zensys' wireless chips are currently used in 85 products. The new capital will be used to increase consumer awareness of the company's technology and to investigate new applications.

Bob Goodman, managing partner of Bessemer Venture Partners, comments on the firm's funding: "We are investing in Zensys based on its proven and widely accepted wireless home control technology, as well as its ability to secure support throughout the industry and continually produce more efficient and more cost-effective Z-Wave chips". The news is reported by Computerworld and on the Zensys website.

Link > Zensys 

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