October 9, 2008
Working with the investment banking firm of Cary Street Partners and the law firm of LeClair Ryan, Mikro Systems Inc. (Mikro) has successfully completed the first of two rounds aimed at raising up to $2.5 million in equity capital. The May-June round successfully raised more than $1.1 million; a second round in October is expected to raise the balance. The proceeds from the equity raise are being used to recruit and hire additional personnel and acquire additional equipment to support scale-up of manufacturing production.
Mikro, founded in 2000 and located in Charlottesville, Va., has developed and patented an innovative manufacturing platform known as Tomo-Lithographic-Molding (TOMOSM) that allows precision molding of metals, ceramics, polymers and other composite materials. This technology is finding applications in a variety of industries including radiation detection and imaging, ceramic cores for turbine airfoils and composite structures.