# Innov-X Systems

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/innov-x-systems

- Industry: Medical Devices & Equipment
- Headquarters: Woburn, US
- Website: www.innovx.com
- Total disclosed funding: $28M
- Latest round: Series A (Dec 20, 2006)
- Investors on record: 3

## About

Innov-X Systems, Inc. specializes in developing and scaling businesses and industrial ecosystems with a focus on sustainable solutions across sectors such as agriculture, energy, and chemicals.Founded in 2001 in Woburn, US, Innov-X Systems, Inc. focuses on sustainable growth and innovation. The firm has undergone significant transformations, having been acquired by Olympus NDT in July 2010. The company has completed a total of 3 deals, with its most recent investment round raising USD 4.50 mn from Massachusetts Capital Resource Company.Innov-X specializes in building and scaling next-generation businesses and industrial ecosystems aimed at sustainable growth and innovation across various sectors, including agriculture, energy, and chemicals. Their core offerings encompass strategic consulting, investments in groundbreaking startups, and development of industrial ecosystems that enhance value chains. Innov-X aims to provide sustainable agriculture solutions, innovative energy systems, and efficient utilization of Morocco's mineral resources, serving clients in Morocco, other African markets, and international partners.Innov-X generates revenue through equity investments, strategic partnerships, and project-based consulting fees, primarily through B2B models. They engage with established companies in strategic sectors, facilitating investment opportunities and collaborations. Their revenue is bolstered by long-term partnerships with performance-based milestones, and initiatives like the Athar Investment Fund focus on impactful investments in agriculture.Innov-X Systems, Inc. plans to launch new sustainable product lines aimed at enhancing agricultural practices and energy efficiency. The company is targeting expansion into additional African markets by 2024, capitalizing on recent funding of USD 4.50 mn acquired in July 2010 to support these initiatives. This investment is intended for further development of their industrial ecosystems and sustainable practices.

## Funding rounds

- Series A, Dec 20, 2006, $28M — Summit Partners, CEI Ventures Management, Rand Capital Corporation

## Investors

- Summit Partners (https://capitalatlas.ai/funds/summit-partners) — Series A
- CEI Ventures Management (https://capitalatlas.ai/funds/cei-ventures-management) — Series A
- Rand Capital Corporation (https://capitalatlas.ai/funds/rand-capital-corporation) — Series A