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WOBURN and BOSTON, Mass. Innov-X Systems received $27 million as a minority investment from Summit Partners, a private equity and venture capital firm.
Innov-X develops portable X-ray fluorescence (XRF) for elemental analysis, such as RoHS-/WEEE-compliance screening. Working with Summit, we will accelerate new-product and proprietary technologies development, expand our global presence, and focus on quality assurance, said Don Sackett, president, Innov-X.
John Carroll, general partner, and Tom Roberts, managing partner of Summit, will join the Innov-X Board of Directors. Carroll cited research, technology, and global reach as reasons for choosing Innov-X as an investment.