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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."
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