Ion Optics nets $2.5M in ongoing round

June 13, 2003 — Ion Optics Inc., a Waltham, Mass., developer of MEMS-based infrared gas sensors, announced an initial closing of $2.5 million in an ongoing $4 million round of financing.

Ardesta LLC is leading the round, which includes other previous investors in the company. Ardesta is the parent company of Small Times Media. A second closing is expected within 60 days, the company said.

Chris Mather, chief executive, said in a prepared statement that the funding would get the company through the introduction and initial production of its SensorChip products. Initial products will be targeted at the industrial safety, indoor air quality and medical device marketplaces.


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