McRock Ups its Ownership in Biometrics Solution Company Invixium

mcrock 11 may 28 2019 mcrock ups ownership in invixium

Toronto, Ontario — (May 28, 2019) McRock Capital, a leading venture capital fund manager focused  exclusively on the Industrial Internet of Things (IIoT), announced today that McRock iNFund LP has  increased its ownership in Ontario-based Invixium and is the largest shareholder through its continued  participation in the company’s Series B financing. The new investment round was led by US-based  Connecticut Innovations with participation from existing investor BDC Capital. 

Invixium is a leading global provider of advance biometric solutions and software analytics for access  control and workforce digitalization. Invixium recently launched its TITAN product line, the world’s most  sophisticated and rugged biometric device with facial recognition and finger vein or fingerprint  authentication.  

“The launch of TITAN is an industry game changer that expands the use of biometrics into industries with  mass workforces while providing employers with accurate workforce management analytics. Our  solutions allow companies to digitally transform the tracking of their workers by eliminating manual, slow  and inaccurate processes prone to error and fraud,” said Shiraz Kapadia, Founder & CEO of Invixium. “In  a single deployment, we have helped a customer save in excess of 20% on inaccurate labour costs.”

In 2019, Invixium delivered its largest order in the company’s history to provide workforce authentication  and digital time and attendance confirmation for thousands of construction labourers that arrive at  construction sites each day. Invixium’s facial recognition technology is capable of processing 15 to 18  people in 1 minute and avoids the challenges of traditional tracking methods. 

“The hourly-paid labour force represents a significant business cost and the methods for hourly workforce  management are ripe for a more accurate digital IoT solution,” said Scott MacDonald, Co-founder and  Managing Partner of McRock Capital. “We see massive potential for this Canadian company and the Series  B financing will further advance their workforce management software analytics capabilities.”  

McRock’s co-founders, Scott MacDonald and Whitney Rockley continue to serve on Invixium’s Board of  Directors. 

About McRock Capital – McRock is the first dedicated Industrial Internet of Things (IIoT) venture capital  fund focused on the intersection of sensors and software in large industrial markets. The McRock team  has a unique background of building high-growth venture-backed IIoT companies while also having  worked in the power, water, oil and gas industries. McRock is backed by several leading institutional  investors as well as Cisco Systems, Électricité de France (EDF), and Caterpillar.  

Visit www.mcrockcapital.com and follow on Twitter @McRockCapital 

About Invixium – Invixium is a world leader in advanced biometric solutions utilizing face, finger vein and  fingerprint recognition for access control and workforce digitalization. Their fully integrated hardware and  software solutions provide meaningful analytics to enterprises and industries for increased productivity  and security. Headquartered in Markham, Ontario with presence in India, Middle East, UK and USA, the  company has sold 1000s of devices and software solutions to 300+ customers in over 60 countries. 

Visit www.invixium.com and follow on Twitter @Invixium