The business in question is involved in the manufacture of video cameras that help deliver increased driving safety.
The announcement with regards to the injection of resources was made recently. New Enterprise Associates, WABCO, and Oak Investment Partners have all committed to backing the firm. A Print company in Temecula could be used if SmartDrive Systems wishes to highlight its acquisition of the support.
Nik Varty, a senior executive at WABCO, has said:
“Extending beyond the strategic alliance we initiated in 2014, our investment in SmartDrive is a natural extension of the relationship and a testament to the company’s significant potential, strong leadership team and word-class technology.”
Varty has stated that SmartDrive Systems has created the standard for the sector in terms of technology. He has added that the innovation associated with the enterprise in question has limited risk.
Steve Mitgang, the current chief executive of SmartDrive Systems, has said that the fresh resources will partly be used for further technological innovation. However, he has also announced that the firm will be looking to exploit international markets to a greater extent than it currently does.
SmartDrive Systems has grown significantly since its formation back in 2004. It is now directly responsible for the employment of in excess of 400 people, including some from outside of the U.S.
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