Portfolio News
Microfabrica raises $22.5 million in Series B
EE Times
Peter Clarke
4 September 2008
LONDON — MEMS maker Microfabrica Inc. (Van Nuys, Calif.) has closed $22.5 million in Series B financing co-led by venture capital firms Versant Ventures and Interwest Partners. Previous investors in the company include Draper Fisher Jurvetson, DynaFund Ventures, Chevron Technology Ventures, and Partech International who also participated in the round.
Microfabrica said the money would be used to move into the market for minimally invasive medical devices as well as continue to expand production capacity and capabilities in electronics and defense businesses.
Three new members were added to the now six-member Microfabrica board of directors. The new board members are: Warren Packard, general partner of Draper, Fisher & Jurvetson; Michael Sweeney, general partner of Interwest Partners, and Kevin Wasserstein, managing director of Versant Ventures. The board also includes: Vacit Arat, Microfabrica president and CEO; Adam Cohen, Microfabrica executive vice president and CTO; and Eugene Chen, an independent director.
"Microfabrica is a visionary company, pursuing a fundamental new wave in medical device development — micro-devices — the next generation of minimally invasive medical devices," said Wasserstein in a statement issued by Microfabrica. "Microfabrica's remarkable technology enables extraordinarily sophisticated and unique metal micro-scale/MEMS-scale devices and micro machines which were previously impossible or impractical to design and manufacture."
