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Zensys Secures Funding Agreement

May 9, 2001
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SAN FRANCISCO, CA — The Danish/American company Zensys has entered into an agreement with the British venture capital firm Palamon Capital Partners for a capital injection of 160 million Danish kroner, or the equivalent of $15 million U.S.

According to Zensys, the capital investment from Palamon Capital Partners will be primarily applied to further development of the company’s Z-Wave™ technology. Z-Wave is Zensys’ patent-pending wireless home control protocol, aimed at providing reliable and moderately priced home control solutions to the average consumer.

The company aims to develop a global partnership with the technology and integrate Z-Wave into partner product lines. According to the company, Z-Wave will allow consumers to access/control lighting, electricity, heating, alarms, and ventilation from a PC, PDA, or cellular phone.

Publication date: 05/14/2001

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