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EoPlex Raises Funds to Grow Printed Circuit Technology
February 12, 2007 |Estimated reading time: 1 minute
REDWOOD CITY, Calif. EoPlex Technologies closed Series C financing with $8 million in investments on a $12 million pre, led by ATA Ventures. The company plans to use the funding to expand design and manufacturing capacities and increase its customer base.
The materials company manufactures electronic circuitry with a custom printing system and inks that deposit ceramic, metallic, or polymer materials to the substrate. This was more similiar to a B round of financing, noted Art Chait, CEO of the company, because we began with seed financing from our founder. He explained that the company will use the C-round financing to increase capacity with new equipment, and possibly acquire new production space in the next year.
EoPlex is capable of changing its market's structure, said Michio Fujimura, managing director of ATA Ventures. He cited EoPlex's advances in the two years since its Series B round scaling from laboratory to commercial production, and meeting technical milestones and commercial standards as investment incentives, as well as the company's potential attraction to new customers. "We raised $4.3 million in our series B, so increasing to $8 million is encouraging," said Chait, who added that having all of the B-round investors return reaffirmed the company's direction.
Eoplex prints components with integrated chambers, channels, sensors, circuits, reactors, energy scavengers, and other features. The parts generally are created simultaneously in large panels, permitting flexibility in design and time-to-market. Draper Fisher Jurvetson, Labrador Ventures, and Draper-Richards, all Series B investors, returned with financing alongside ATA Ventures.