New York, NY, July 19, 2017 --(PR.com
)-- APIAM Technologies, Inc. (APIAM) announced today that it has engaged Castle Placement as its exclusive placement agent to raise $21 million of capital to complete R&D, launch the product, secure supplier purchase orders and fund transaction expenses.
APIAM is a cutting-edge cargo tracking technology company, headquartered in Phoenix, AZ, helping to reduce the $20+ billion in annual cargo losses due to theft and misrouting. The company’s groundbreaking technology can track individual assets as well as specific pallets, barrels or other shipping containers. Microelectronic wireless modules with up to 10-year battery lives are attached to assets and containers, enabling monitoring in 99% of the industrial world. APIAM’s software works on smart phones, tablets and desktop computers. Initial capital will fund production of devices to provide trial runs for several interested corporations seeking to cut their significant existing cargo losses.
Founded in 2009, Castle Placement raises equity and debt private capital for start-up, early-stage and middle market companies across a broad spectrum of industries. Its robust technology platform helps to connect issuers with global institutional investors. Castle Placement has over 27,000 private equity, venture capital and strategic investors, family offices, pension funds, foundations, endowments, sovereign wealth funds, hedge funds and lenders.