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Innovative Micro Closes $17M Funding

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SANTA BARBARA, Calif., Feb. 3 -- Innovative Micro Technology (IMT), a manufacturer of microelectromechanical systems (MEMS), announced it has raised $17 million in institutional venture capital. The company said it will use the investment to expand its facilities and equipment as it begins production on multiple customer programs. Funds will also be used to expand IMT's sales and marketing efforts, specifically those targeting new technology partnerships with industry leaders. The funding round was led by Investor Growth Capital Ltd., with significant participation from BA Venture Partners...Read full article

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    Published: February 2005
    Glossary
    microelectromechanical systems
    Refers to micron-size complex machines that have physical dimensions suitable for the fabrication of optical switches for use in state-of-the-art communications networks.
    industrialInnovative MicroMEMSMEMS manufacturingmicroelectromechanical systemsNews & Features

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