Motorola believes in Apprion-makes investment

Motorola is joining Chevron in backing Apprion's industrial wireless products and services. Motorola Ventures becomes an investor, and according to Mike Bradley Sr., Apprion's CEO, enters a strategic relationship with Apprion as well. From the press release, which was embargoed until 8 AM today: Motorola Invests in ApprionMotorola Ventures joins Chevron Technology Ventures, Anvil Investment Associates LP, Advanced Technology Ventures and Allegis Capital in Second Round of Funding Schaumburg, IL and Moffett Field, CA – July 1, 2008 – Motorola, Inc. (NYSE: MOT), through Motorola Ventures, its strategic venture capital arm, today announced an investment in Apprion, Inc., a market leader in open industrial wireless networks and applications. With the Motorola Ventures investment, Apprion has raised over $23.5M.Apprion delivers advanced wireless products, applications and services for industrial plants. Apprion’s ION System enables industrial facilities to cost-effectively deploy and manage multiple wireless applications as one unified, integrated system. The ION System consists of the Apprion IONosphere and IONizers. The IONosphere is an on-site controller that manages data services, workflow, security, monitoring and maintenance, and 3rd party application integration across wireless plant networks. Apprion's IONizer is the process industry's first industrial-grade, multi-RF, wireless network appliance. IONizers are designed to cost-effectively integrate and secure previously standalone wireless-enabled applications, such as VoIP and condition monitoring."Over the last decade wireless technologies have radically changed how we live. Over the next decade, we expect to see wireless technologies transform manufacturing by the same magnitude," said John O’Donohue, managing director of Motorola Ventures. "Apprion delivers the right combination of technology, products, and industrial experience to uniquely address the wireless challenges of industrial customers. Both their growth trajectory and excellent track record demonstrate that the company is a driving force in industrial wireless solutions.""We are delighted to be entering into a strategic relationship with Motorola," said Mike Bradley, Sr., CEO and president of Apprion. "Motorola is the industry standard in providing wireless solutions to manufacturing. Together, Motorola and Apprion will be able to forge a path for the next generation of integrated wireless networks and applications that will unlock plant performance while delivering enhanced safety and security."Motorola Ventures completes the Company’s existing Series B round led by Anvil Investment Associates LP. Strategic investor, CTTV Investments LLC, the venture capital arm of Chevron Technology Ventures and Series A investors Advanced Technology Ventures (ATV) and Allegis Capital also participated in Series B.

What are your comments?

Join the discussion today. Login Here.

Comments

No one has commented on this page yet.

RSS feed for comments on this page | RSS feed for all comments