Akustica extends first round financing to $4.5M

Jan. 22, 2003 — Akustica Inc., a Pittsburgh developer of MEMS-based acoustic chips, extended its first round of financing to $4.5 million, according to a company news release. Akustica previously closed the round in October at $2.25 million.

As announced in October, the round was led by Chamberlain Investments, a new venture investing firm formed by Glen Meakem, co-founder of FreeMarkets.com. The $2.25 million extension announced today was provided by private individual investors, a company spokesman said.

The company intends to use the funds for continued product development. Akustica uses MEMS technology to integrate microphones and speakers with integrated microelectronics on standard CMOS semiconductor chips.

POST A COMMENT

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.