Marlborough Firm Secures $3M Investment
A Marlborough-based manufacturer of solid-state silicon motion sensors has secured a $3-million investment from a Japanese company, which will help upgrade its processes and sell its products globally, the firm, Qualtre Inc., announced.
Qualtre has had a working relationship with the Japanese firm – Alps Electric – for several years, it said in a statement. And executives from both companies believe the partnership will provide customers with innovating products and "outstanding" customer support.
The investment by Alps Electric was completed last month. Qualtre believes the market for its product, called MEMS (for micro-electro-mechanical systems) inertial sensors, which are used for consumer, automotive and industrial applications, is growing faster than that of the overall semiconductor industry. The company said industry experts predict the market for MEMS inertial sensors will top $4 billion by 2015.
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