Indigo raises $17.6 million
Indigo Systems announced Tuesday that it has received $17.6 million in a first round of funding from the Carlyle Group, Founders Capital Partners, Lago Ventures and WK Technology Fund. As a result of the deal, the Carlyle Group and Founders Capital will each occupy a seat on Indigo's board of directors. The Santa Barbara, Calif.-based company makes heat-sensing infrared cameras for commercial, industrial and military uses. Indigo will use the funding for the second stage of its strategy, which is to produce products at commercially viable prices for global markets. The company has completed its initial strategy with seed funding raised from Northrop Grumman in 2000 and has built a manufacturing plant.
The Santa Barbara, Calif.-based company makes heat-sensing infrared cameras for commercial, industrial and military uses. Indigo will use the funding for the second stage of its strategy, which is to produce products at commercially viable prices for global markets. The company has completed its initial strategy with seed funding raised from Northrop Grumman in 2000 and has built a manufacturing plant.