bioMETRX receives funding
Jericho, NY-based bioMETRX Inc. has received funding to expand the reach of its technology across different vertical markets. bioMETRX provides consumer biometric system for such as garage door openers, thermostats, luggage as well as door hardware. bioMETRX has established relationships with various retail and OEM partners including The Home Depot and Master Lock.
Biometric Investors LLC, a subsidiary of Crestview Capital, will invest between $11 and $15 million in the company along with an additional $5 million in assets. Biometric Investors also has an $8.5 million secured investment in Sequiam Biometrics.
“This transaction will allow bioMETRX to dramatically scale up engineering and manufacturing capabilities, as well as substantially accelerate revenue growth while maintaining its’ relatively low overhead,” said Robert Hoyt, managing partner at Crestview Capital. “The transaction will provide broader opportunities to bioMETRX in the consumer OEM markets to compliment its current consumer biometric product portfolio.” ![[end]](/resources/bullet/thirdfactor-4.gif)