Sionex raises $3.6 million in 1st round

June 18, 2002 — Sionex Corp., a MEMS chemical sensor developer based in Waltham, Mass., closed on $3.6 million in a first round of institutional venture financing, according to Navigator Technology Ventures LLC. In addition to Navigator, participants included Rho Ventures and TechFarm. Rho led the round.

According to Alain Hanover, Navigator’s chief executive, the financing will cover the company’s current goal of launching its first product in the industrial gas applications market. He projected a product launch and second funding round for the end of this year. Sionex is a spinout of the Charles Stark Draper Laboratory Inc. of Cambridge, Mass.


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