Immersive Technologies receive $5 Million in capital from Equity Partners and appoint Dr Ian Burston as chairman
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March 26, 2003
Immersive Technologies, a developer of leading simulator technology for mining and other heavy equipment, today announced it had secured a $5 million capital injection from venture capital firm Equity Partners.
Immersive Technologies CEO, Peter Salfinger, said “Since our first Advanced Equipment Simulator hit the market in 1999, interest from mining companies has been rapidly growing. We’ve now sold simulators in ten countries around the world. This funding from Equity Partners will assist us to develop additional models for use in the simulator and expand our global distribution and support network.”
