McRock Capital leads US$12.5 million Series A equity financing round for Triax Technologies

On June 17, 2021, Triax Technologies, Inc., a leading Internet of Things (IoT) solutions provider connecting construction, energy, manufacturing and industrial worksites based in Norwalk, Connecticut, announced that it had raised a Series A equity financing round of US$12.5 million.

The round, led by McRock Capital ("McRock"), an institutional investor focused on industrial IoT, along with Connecticut Innovations and support from existing shareholders, will be used to grow the Triax Technologies team and scale its solutions globally. McRock is the first dedicated Industrial Internet of Things (IIoT) venture capital fund manager focused on the intersection of sensors and software in large industrial markets and smart cities.

Derek Keay of Gowling WLG advised McRock on Canadian matters with respect to this Series A round.