Fusion Optix 1st Round Nets $1.1 M

CAMBRIDGE, Mass., Feb. 15 -- Fusion Optix Inc. announced it has closed on a Series A funding round totaling $1.1 million by a group of independent private equity investors from Boston and Philadelphia.

The one-year-old private company has developed an optical technology that improves the visual performance of flat panel displays, such as those used in LCDs, and emerging microdisplay-based rear-projection TVs while making them less expensive to manufacture and operate.

The investment follows a seed funding round completed in April 2004 by the company’s founders and Thomas Eagar, a professor of materials systems and engineering at the Massachsuetts Institue of Technology (MIT). Eagar also leads the Boston investment consortium and the company’s scientific advisory board.

Fusion Optics said it has produced sample quantities of its initial products and is working with mainstream original equipment manufacturers (OEMs) in North America and Asia to integrate the technology into a variety of consumer and industrial products.

For more information, visit: www.fusionoptix.com