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Zensys receives funding from Panasonic's venture group

Posted: 31 Mar 2008 ?? ?Print Version ?Bookmark and Share

Keywords:funding Zensys? Z-wave? venture group Panasonic?

Z-wave wireless home control standard developer Zensys Inc. has secured investment from Panasonic Corp.'s venture group, which joins the roster of investors that includes Intel Capital, Cisco, Bessemer Venture Partners, Palamon Capital Partners and Sunstone Capital. Zensys will use the funding to further its push into the global home automation and control marketplace.

"Panasonic looks forward to working with Zensys to help consumers enjoy the benefits of the 'smart home of the future' today," said Paul Liao, chief technology officer, Panasonic Corp. of North America.

Z-Wave brings wireless home control to the home environment, consumer electronics, healthcare and energy management. Z-Wave's interoperable wireless mesh networking technology allows various devices around the home to communicate, including lighting, appliances, HVAC, entertainment centers and security systems.

"Panasonic venture team's interest in Zensys is in recognition of the fact that Z-Wave is a leading technology with a demonstrated track record in wireless home control and which offers a price point that allows manufacturers to bring the technology to the mass market," said Dilip Sampath, venture partner in Panasonic's U.S. venture group.

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