A Maryland-based security technology company raised $400,000 in a private equity offering, according to a filing with the Securities and Exchange Commission.
TRX Systems Inc. provides mapping and personnel location in areas where GPS is not available. It is the first company to use sensor fusion and dynamic mapping to pinpoint location indoors.
According to the Form D, proceeds will be used for working capital which will include normal compensation to executive officers and managers.
The offering is not being made in connection with a business combination transaction, and is not intended to last more than one year.
