Applied MicroStructures Secures $8.5 Million in Series B Funding; Sierra Ventures Leads Investment Round for Nanotechnology Pioneer.SAN JOSE San Jose, city, United States
San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif., April 7 /PRNewswire/ -- Applied MicroStructures, Inc. (AMST AMST Advanced Medium STOL Transport (US DoD)
AMST Amst Systemtechnik GmbH (Austria)
AMST Art Museum of South Texas (Corpus Christi, Texas) ), the leading provider of tools, technologies and expertise that enable the vapor deposition Vapor deposition
Production of a film of material often on a heated surface and in a vacuum. Vapor deposition technology is used in a large variety of applications. of molecular-level films for nanotechnology applications, today announced the closure of its Series B financing round with an investment of $8.5 million. California-based Sierra Ventures led the round, with existing investors Compass Technology Partners and Horizon Ventures also participating. The funding will bolster the company's infrastructure, keeping it on course to accelerate product development efforts and support order momentum.
Under the terms of the agreement, AMST's board composition will change, with Sierra's venture partner, Ben Yu, rounding out a line-up that includes Doug Tsui of Horizon Ventures and Alain Harrus of Compass Technology Partners, along with AMST's chief executive officer, Jeff Chinn.
The new funding comes at a time of significant momentum for AMST. The company's innovative Molecular Vapor Deposition(TM) (MVD MVD: see secret police. ) technology is gaining strong traction in the microsystems, life sciences and research areas. Considered by customers as a critical enabler of highly optimized films and surfaces, AMST's MVD delivers compelling ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). advantages in the form of increased yields and reduced costs.
Commenting on the funding, Yu credited AMST's solid technology and business execution as key factors in sealing the round. "We see significant potential in multiple nano-related market areas for AMST's unique MVD technology. We are impressed with the accomplishment of the team to date, and we look forward to working with them as they continue to grow the company."
Said AMST's Chinn, "This round represents a significant vote of confidence in our company and our core technology. We've made great strides since our founding in 2003, and we're confident that this new investment will help us refine our product line, expand our markets and help us better serve our customers."
About Applied MicroStructures
Silicon Valley-based Applied MicroStructures is the leading provider of tools, technologies and expertise that enables the deposition of molecular-level films for a broad range of nanotech applications in microsystems, life sciences and research arenas. The company's Molecular Vapor Deposition (MVD(TM)) technology represents a radical new technique that enables the controlled deposition of films. These self-aligned, highly uniform and customizable ultra-thin films can be deposited across a broad spectrum of substrate types and sizes, and are deployed in diverse nano- applications, including microsensors, life-sciences and nano-technology research. For more information about the company, please visit http://www.appliedmst.com/
NOTE: Molecular Vapor Deposition (MVD) is a trademark of Applied MicroStructures, Inc.
CONTACT: Jeffrey Chinn, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Applied MicroStructures, Inc., +1-408-594-0414, or fax, +1-408-719-9102, or firstname.lastname@example.org; or Jane Evans-Ryan, Director, Emerging Technologies Division of MCA, +1-650-968-8900, or fax, +1-650-968-8990, or email@example.com, for Applied