Amic raises $3.26 million

Oct. 14, 2002 — Amic AB, an Uppsala, Sweden-based microsystems developer, announced it has raised $3.26 million in an initial funding round, according to Bjorn Berg, chief executive officer. Investor Growth Capital, a wholly owned subsidiary of Investor AB, and Innovationskapital participated.

The 28-person company was founded in 1998. Berg said the company will use the new funding for expanding its markets and production capacity. Amic’s biggest customer is Gyros AB, located in the same office park in Uppsala. Amic provides technology for the Gyrolab CD used in Gyros’ Gyrolab workstation.

Berg said the company has grown on revenue generated from customization and production projects and posted revenue last year of $2.17 million. He said Amic anticipates raising another round of funding in 20 to 24 months if developments occur according to plans.


Easily post a comment below using your Linkedin, Twitter, Google or Facebook account. Comments won't automatically be posted to your social media accounts unless you select to share.