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Cronos Gets $8 Million in First-Round Financing.(Brief Article)
Cronos Integrated Microsystems Inc. (P.O. Box 13942, Research Triangle Park, NC 27709; Tel: 1-877-GET-MEMS, Fax; 919/465-0486) said it has raised $8 million in its first round of venture capital financing. Led by SpaceVest II L.P., other investors consist of Intel Corp. and Knickerbocker LLC.
Cronos, which designs and fabricates MEMS components, will use the funding to help further its growth and expansion in markets in which MEMS devices are gaining rapid acceptance - primarily in telecommunications and microinstrumentation. "The growth we're seeing in key market segments, especially in optical communications, is reminiscent of the early years in the semiconductor industry," says Robert L. Bratter, president and CEO of Cronos. "Completion of our first round of financing underscores our commitment to meet the growing demand for MEMS devices in our markets."
Commenting on Cronos' completion of its financing, David Bishop, head of micro- mechanics research at Lucent Technologies' ...
- Cronos Integrated Microsystems Secures $8 Million in First-Round Financing.
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- Press release article from: Business Wire January 19, 2000 700+ words
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