BDC Capital joins the McRock InFund in investing in biometric security company Invixium's $4m series A round.
Invixium, a Canada-based entry system developer, has added BDC Capital, the investment subsidiary of government-owned Business Development Bank of Canada, to its $4m series A round.
The round was initially announced in October 2015 with a leading investment from McRock InFund, an internet of things VC fund managed by McRock Capital backed by BDC Capital.
Invixium produces biometric security products based on fingerprint scanning. The devices are connected to the internet and enable companies to restrict access to specific areas.
Shiraz Kapadia, founder and chief executive of Invixium, said: “Adding the Business Development Bank of Canada as a shareholder through an investment from BDC Capital provides our company with significant financial backing and business resources to accelerate our growth in global markets.”
Jerome Nycz, executive vice-president at BDC Capital, said: “As a significant investment partner of McRock, this co-investment in Invixium demonstrates our combined ability to provide expert and financial resources to enable Invixium to succeed and compete on the global stage.”