Ziptronix, Inc. Secures Series C Financing; Semiconductor Technology Company Receives $7.2 Million in Growth Capital
Posted on: Thursday, 11 August 2005, 12:00 CDT
Ziptronix, a semiconductor technology company that is commercializing a revolutionary three-dimensional integrated circuit (3D IC) semiconductor technology, announced today it has secured $7.2 million in growth capital through a Series C venture capital investment.
The Series C round was financed by previous investors, including Alliance Technology Ventures, Grotech Capital, Intersouth Partners, Research Technology Ventures, RTI International and NC IDEA.
The financing will be used to expand sales and marketing initiatives and to develop additional partnerships. Ziptronix provides conductive-dielectric, covalent bonding of semiconductor materials, and other 3D IC technology. These technologies enable three-dimensional vertical integration of two-dimensional integrated circuits. They enable low power chips that are faster, smaller and less expensive than chips available today.
"Ziptronix continues to be an exciting investment opportunity," said Mitch Mumma of Intersouth Partners. "The company continues to make progress in advancing its technology and the management team is highly focused on getting to the next level of customer traction and revenue generation."
"This investment is a great endorsement by our investors of our solid performance and continued progress," said Phil Nyborg, President and CEO of Ziptronix. "This funding will allow Ziptronix to continue its growth and expansion as we move toward profitability."
About Ziptronix, Inc.
Founded in 2000, Ziptronix was created with technology from the Research Triangle Institute (now RTI International) in order to commercialize ten years of research and development in the fabrication of three-dimensional integrated circuits. Its proven technology is being applied to development projects for major semiconductor companies. Ziptronix develops its process technology via on-site development facilities and provides support and limited production for 3-D ICs. For more information, please visit http://www.ziptronix.com.
Source: Business Wire
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