ATLANTA, July 27, 2010 – Sentrinsic, an industrial sensing and controls company built on technology developed at the Georgia Institute of Technology, today announced it has received a $500,000 investment of growth capital. The investment was led by the GRA Venture Fund, LLC, a private investment fund created to help finance promising companies that emerge through the Georgia Research Alliance VentureLab commercialization program.
“This investment gives us the growth capital needed to press fast forward on our product development efforts,” said Mike Orndorff, Sentrinsic CEO. “We are growing the size of our company and expanding the breadth of our product offerings.”
According to Orndorff, Sentrinsic’s proprietary technologies are uniquely suited to be easily integrated into existing industrial equipment and stand up to the rigorous, harsh environments in which these products operate. They use these technologies to unlock new capabilities and efficiencies in existing industrial products for their partners.
Sentrinsic’s first product, set to reach the market in the second half of 2010, is an energy efficiency device for industrial pumps. It combines the company’s patented, ruggedized, linear displacement sensor with Sentrinsic’s proprietary embedded conditioning and control electronics. “The device lowers pump energy consumption by up to 50 percent, saving end users 10 to 20 times the cost of their investment in energy bills over the life of the product,” said David Beck, chief operating officer of Sentrinsic.
“We would not be in the position we are today without the Georgia Research Alliance VentureLab program,” said Beck. “The GRA VentureLab helped us analyze the market opportunity for our technologies and successfully navigate the commercialization process. We even secured our first customer – a Fortune 500 company – while part of the VentureLab program.”
Sentrinsic is an innovative engineering products and services company that uses patented technology and embedded controls expertise to make industrial machinery smarter. The company partners with industrial and mobile equipment manufacturers to inject new technology into mature product lines. For more information, call (404) 254-1253, e-mail firstname.lastname@example.org, or visit the Sentrinsic Web site.