Triax Technologies has raised a Series A funding round of $12.5 million. The round, led by McRock Capital, an institutional investor focused on industrial IoT, along with Connecticut Innovations and support from existing shareholders, will be used to grow the Triax team and scale its solutions globally. As part of the financing, Scott MacDonald, cofounder and managing partner of McRock Capital, has joined the Triax board.
The funding comes amid growing demand for, and investment in, IoT technology, and increased adoption of the company’s wearable solutions to improve worksite safety and efficiency.
“Our mission is to provide IoT technology and data insights that help companies change the way they work to keep workers safer and worksites more efficient,” says Robert Costantini, CEO of Triax. “By working closely with innovative customers, we have demonstrated the ability to service large-scale operations with robust and scalable technology, and to serve as a trusted partner in their digital transformation initiatives.”
Building on the market demand for this real-time worker alert technology, Triax launched Spot-r Radius in May 2021. This next-generation solution leverages preventative alerts with added safety and efficiency data insights.