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CargoSense Hauls More Venture Capital Funding

Wednesday, August 26, 2015 5:46:00 AM PDT | VentureDeal
   Reston, Virginia  --  Sensor technology company CargoSense has received $3.7 million in new venture capital equity investment, according to an SEC regulatory filing.

CargoSense provides sensors for shipping logistics to record temperature, light, humidity, pressure, shock and tilt in order to help enterprise ensure product integrity throughout the supply chain.

Investors in the financing were not disclosed, nor was how the company intends to use the proceeds.

Approximately $2.7 million of the total represented canceled indebtedness, so net new money to the company was $1 million.

CargoSense Pres. & CEO Richard Kilmer has been with the company since January 2013.

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