By Allan Maurer
HUNTSVILLE, AL – Synapse Wireless, which sells Internet-enabled wireless control and monitoring mesh networks, has raised $630,000 in a mixed debt and securities offering according to a regulatory filing.
The company revealed the financing in a filing with the U.S. Securities and Exchange Commission.
Earlier this year, Synapse won the North America Emerging Company of the Year for 2009 Award by Frost & Sullivan.
Citing the reasons for selecting Synapse above others in a crowded, new market, Frost & Sullivan said, “since the introduction of the Internet as a building automation tool, no other technology has had as profound an impact as wireless technology.”
“Synapse is well positioned to evolve with current and potentially nascent wireless and TCP/IP standards, spearheading the efforts toward acceptance and adoption of wireless and open protocols.”
The company sells SNAP is an auto-forming, multi-hop, mesh network, software solution and another product called Portal.
It says the products provide intelligent, wireless control and monitoring mesh networks that are low-power, high-performance, self-forming, instant-on, and self-healing.
Frost & Sullivan observed that, “the company has been quick to foresee demand in the energy monitoring, power management and infrastructure markets and has equipped itself appropriately to explore opportunities in emerging growth markets.”
“Notable forays include Synapse’s entry into the renewable energy, demand/response, smart metering and smart grid spaces that are expected to generate long-term prospects for the company.”
Frost & Sullivan also explained that, “Newly-developed network software architectures such as SNAP provide flexibility and ease of deployment of wireless systems, as they address the unique needs of remote monitoring and control, and sensory network applications.”
The company, which cited revenues of between $1 million and $5 million in its SEC filing, earlier announced that revenues doubled in the first quarter of 2009 and again in the second quarter.
Online: www.synapse-wireless.com
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