Inxpect to raise €17 million in a series B round led by Fondo Italiano d'Investimento.
Inxpect, a Brescia, Italy-based company that designs radar sensors for industrial safety applications, announced closing series B funding round of €17 million ($20.7M).
The money was raised from investors from Italy led by Fondo Italiano Tecnologia e Crescita, a fund managed by Fondo Italiano d’Investimento, and including participations from existing investors 360 Capital and 8a+ Investimenti.
As part of the transaction, Claudio Catania will join Inxpect’s Board of Directors.
Inxpect, founded in 2015 by CEO Luca Salgarelli, designs and manufactures the world's first and only radar sensors certified for industrial safety applications. The company has an rangee of international patent families based on which is now investigating 3D radar imaging technologies to make collaborative robotics a pervasive technology applicable to a wide range of industrial applications.