Ion Optics closes $4 million round

Jan. 28, 2004 — Ion Optics Inc. (News, Web), a Waltham, Mass., developer of MEMS-based gas sensors and other products, closed a $4 million Series C round of financing, according to a news release.

Digital Power Capital led the round. Previous investor Ardesta LLC also participated. Ardesta is the parent company of Small Times Media.

The infusion of funds will be used for developing the packaging required to commercialize the company’s gas sensors in volume markets. The company intends to lower cost, size and power consumption by shrinking infrared gas sensors onto a MEMS chip.

Additional applications include respiration sensors for medical applications and fresh air ventilation, and gas monitoring for the industrial and residential safety markets. The company is also pursuing infrared illumination for military use as well as automotive applications. It intends to ship products by the end of 2004.

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