LAS VEGAS, March 28, 2007 (PRIME NEWSWIRE) -- InRob Ltd. ("InRob") (OTCBB:IRBL), a leader in the development and production of advanced wireless control systems and integrated solutions for unmanned ground vehicles (UGV), today announced the completion of a round of capital raising in the amount of USD 3 million.
The Company believes that completion of this financing will enable it to promote its business and implement its global growth strategy in the military and civilian markets.
"We look forward to an exciting new phase in the corporate development of InRob Tech. This capital raising places the Company in a stronger financial position to pursue its global expansion strategy, and specifically accelerate our R&D efforts and the mass-production of competitively priced products," said Ben Tsur Joseph, President of InRob Tech. "We are very pleased by the vote of confidence by our investors as we move towards significant commercial opportunities in the near term."
About InRob Tech
InRob Tech is an Israeli-based high-tech company specializing in the planning, manufacturing and service support of advanced wireless and remote control systems, operating all types of robots and other vehicles. The Company is Israel's leader in its field, and supports the IDF (Israeli Defense Forces), Israeli police, and other military and civilian companies dealing with security. Founded in 1988, the Company works closely with other high-tech companies to provide the most advanced and comprehensive UGV solutions to the market.
For more information, please visit our web site at http://www.inrobtech.com.
Forward-Looking Statements
Certain statements in this news release may contain 'forward-looking' information within the meaning of the Federal securities laws. All statements, other than statements of fact, included in this release may include forward-looking statements that may involve risks and uncertainties.
There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.