An Irvine software company that began as a unit of a Japanese conglomerate has landed $10 million in an initial round of funding.
Mitrix Inc., which sells software that helps manage logistics, will use the money for production development and to expand its “support organization.”
The round was co-led by CMEA Ventures in San Francisco and LogiSpring Investment Fund SA of Brussels.
“The backing and support of both firms will accelerate our growth as an independent company and market leader,” said Ed Lewis, chief executive of Mitrix in a statement.
Until recently, Mitrix was a subsidiary of the global trading company Mitsui & Co. in Tokyo. Mitsui still owns a stake.
Many of Mitrix’s initial customers were part of Mitsui’s vast network of companies, though Mitrix is broadening customers beyond Mitsui.
The company’s software helps customers forecast and plan logistics and ship products.
Mitrix targets midsize companies as well as operating units of larger corporations.
