MEMS optical platform developer raises $15m Series D

Nov. 8, 2006 — Axsun Technologies Inc., a Billerica, Mass., manufacturer of MEMS-based micro-optoelectronic “spectral engines,” announced the closure of a $15 million Series D financing round.

Electro Scientific Industries Inc., a leading supplier of innovative production laser systems for microengineering applications, led the Series D equity round, which was joined by current investors Prism Venture Partners, Vantage Point Venture Partners and Stata Venture Partners along with other private investors. In addition to the equity financing, Axsun closed an asset backed loan agreement with Bridge Bank.

Axsun said it will use the proceeds to enhance its core spectral engine offerings in industrial process spectroscopy, including the PAT Pharmaceutical, homeland security and optical communications markets.

Axsun has named Steve Harris, vice president of R&D at ESI, to join its board of directors, where he joins Ray Stata, Axsun CEO Dale Flanders, Bill Seifert of Prism Ventures and David Fries of Vantage Point Venture Partners.


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