Microfabrica Inc. has announced recently it has closed $8 million in
Series C strategic financing led by Venture Capital firm Draper
Fisher Jurvetson.
Microfabrica's strategic partners participated in the round in
addition to Draper Fisher Jurvetson (DFJ) and other previous
investors of the company, including DynaFund Ventures, Partech
International, ChevronTexaco Venture Equities, Zone Ventures and
Atherton Venture Partners.
The
funds will be used primarily to expand Microfabrica's fabrication
facility in Van Nuys, California, and to increase manufacturing
capacity as the company moves additional customer programs into
volume production.
"Microfabrica
has been gaining tremendous momentum with its customers recently and
building strong strategic partnerships in its key markets. These
customers are now moving into volume production, and want to secure
production capacity to support their needs. The investment will help
build that additional capacity, paving the way for strong revenue
growth in 2007 and beyond," said Warren Packard, Managing Director
at Draper Fisher Jurvetson. "I believe the company's breakthrough
micro-fabrication process brings strategic competitive advantages to
a broad range of applications. This is only the beginning of an
exciting time for Microfabrica as the company starts reaping the
benefits of their innovations and hard work."
"This
investment from our strategic partners and the existing investors
demonstrates their continued confidence in Microfabrica and is
testimony to the strength of our technology and market strategy,"
said Vacit Arat, President and CEO of Microfabrica Inc. "We look
forward to executing on the expansion of production capacity and
responding to the pent-up customer demand for our products."