Fredericton-based Smart Skin Technologies has closed a $10.7 million round of funding led by BDC Capital, and intends to double its staff with the new financing.
BDC Capital’s Industrial Innovation Venture Fund led the round, which was joined by existing investors including Schott AG, East Valley Ventures and the New Brunswick Innovation Foundation. Schott, a German glass manufacturer, first invested in the company in 2017.
Smart Skin uses industrial internet of things applications to help improve the efficiency of production lines in the bottling industry, and its business has grown