Unique Solutions Raises $15 Million to Commercialize Body Scanning Tech

6/9/2015
Unique Solutions Design Ltd., (Me-Ality), developer of scanner technology able to take precise body measurements while a person is fully clothed, and owner of the world's largest database of body dimensionality, completed a $15 million equity private placement. The funding exceeded the initial $10 million target by $5 million and was co-led by Me-Ality's largest institutional investor, Northwater Capital Management Inc., and new director, Skip Battle. The new funding will provide working capital for ongoing operations including the commercialization of the company's proprietary handheld body scanner in international markets.

Skip Battle is chairman of the board of FICO (Fair Isaac Corporation), a director at Netflix Inc., Workday, Expedia and LinkedIn. Prior to its recent sale, he served on the board of OpenTable. Skip is a former partner of Andersen Consulting LLP (now Accenture) and was worldwide managing partner of market development. Skip served as CEO as Ask Jeeves from 2000 to 2004 and as executive chairman from 2004 to 2005. He was on the board of directors at PeopleSoft from 1995 to 2004, and was previously a director at Advent Software and Barra. He has served as a board member and trustee at a number of educational and non-profit organizations. He is a senior fellow at the Aspen Institute and holds an MBA from the Stanford Graduate School of Business and a BA in Economics from Dartmouth College.

Unique Solutions also welcomes a new board member, Peter Reiling. Peter is executive vice president for leadership at the Aspen Institute where he is building out a global network of some of the world's leading business entrepreneurs. Prior to joining the Aspen Institute, Peter was president and CEO of TechnoServe, advising small to medium-sized businesses in Latin America, Africa and Central Europe. He is co-founder of the Aspen Network of Development Entrepreneurs and currently serves both as chairman of the Central America Leadership Foundation and as a director of Georgetown University's Beeck Center for Social Impact and Innovation. A former adjunct professor at Columbia University, Peter is a member of the Council on Foreign Relations and was named "Outstanding Social Entrepreneur" by the Schwab Foundation in Geneva. He is a graduate of Georgetown University (BSFS) and the University of California/Berkeley (MBA).

"I have had the pleasure of working with both Skip and Peter at the Aspen Institute and their vast experience will add valuable perspectives to our Board of Directors," noted chairwoman Tanya Shaw.

"I have had the good fortune to work with Skip in the past," Me-Ality CEO Tuoc Luong added. "Skip's experience, energy and wise counsel guiding new technology companies is going to be a great asset to our company's future. His commitment to Unique, as a director and his substantial investment in our company are matched by my own excitement as we prepare to commercialize our handheld body scanner. Northwater's investment through their Intellectual Property Fund reflects their sophisticated understanding of our technology and its potential in multiple business verticals."

The application of Unique's body measurement technology and body dimension data, have far-reaching impact in several industries. In the clothing industry, Unique's size-matching technology, Me-Ality, matches body dimensions to clothing specifications, taking the guesswork out of size selection for consumers and uniform buyers.
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