$4.5 Million Secured by Skyhawk LTE Connected Monitoring Devices

PICA Product Development (PPD), an industry leading manufacturer of intelligent music-on-hold, in-store messaging and loss prevention systems and its affiliate company, PICA Manufacturing Solutions (PMS), a leading manufacturer of Flexible and Rigid Circuits, announced the securing of a $4.5 million line of credit from Bank of America to assist the market introduction of PPD’s Skyhawk line of IoT remote monitoring devices.

Newly deployed LTE Cat M1 networks, providing coverage of essentially the entire United States, are now supporting Low Power Wide Area Network (LPWAN) technology. What this means for users is that the latest Internet of Things (IoT) monitoring devices can combine LTE mobile connectivity with extremely long battery life. The Skyhawk product line is specially engineered to take full advantage of these new technologies and allow very long-term deployment of monitoring devices for various use cases.

Highly compact Skyhawk devices feature potent internal primary battery power enabling rapid long-term deployment of various types of sensors to monitor assets in remote locations without the need for any other connectivity or power sources. Additionally, Skyhawk deployment and customer activation are entirely mobile device App based, eliminating the need for complicated manual setup processes. The Skyhawk hardware and connectivity services are provided with customized software solutions for various consumer, commercial and industrial applications. Custom integration into existing deployed enterprise business software via our API solutions is also supported.

Application areas will include animal relocation, wildlife control, pest management, tank monitoring, marine, environmental monitoring, graffiti prevention, perimeter security, delivery notification, remote building/storage monitoring, remote asset monitoring, construction site monitoring, equipment monitoring, automobile loT security, employee security and a host of other applications not previously practical or economical. Initial product introductions are being made at the 2019 Animal Care Expo – booth 914.

In addition to the new $4.5 million line of credit, the design, manufacturing and financial resources of the PICA group of companies will continue to the facilitate development and marketing of the Skyhawk product line.

Posted: April 24, 2019
Category: Corporate , Finance