Intelleflex, a provider of on-demand data visibility solutions, announced (PDF) today that it has closed an $11.5 million Series A extension with current investors Arcapita Ventures and New Venture Partners.
Leveraging patented technology that yields a disruptive price/performance model, the Intelleflex XC3 Technology platform provides a low-cost extended-capability solution that addresses a multi-billion-dollar market opportunity for the perishable food and pharmaceutical cold supply chain, where approximately one third of temperature-sensitive products are wasted.
The new capital will be used to expand sales and marketing and accelerate key vertical-market initiatives with strategic partners, Intelleflex says.
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