nPoint nets angel funding

June 17, 2002 — nPoint Inc. of Middleton, Wis., a provider of precision motion devices and controllers for nanoscale research and manufacturing, announced the closure of an initial round of funding from four Wisconsin-based angel investing networks: Early Stage Research LLC, Wisconsin Investment Partners LLC, Silicon Pastures LLC and Origin Investment Group LLC. Early Stage Research led the $1.1 million round.

nPoint, previously known as Piezomax Technologies Inc., is on target to break even by the end of next year, according to John Biondi, chief executive. He anticipates closing on another round of funding around the same time. “We have the potential for a strategic round with some of our customers and we’re working on venture as well.” Biondi expects the next venture round to be in the $3 million to $5 million range.


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