Imago Scientific Instruments Secures $3.4m in Equity Funding

Published on April 28, 2006 at 2:53 AM

Imago Scientific Instruments, the world leading provider of Atom Probe Tomography instruments, announced today that it has ompleted a $3.4 million round of equity funding led by Draper Fisher Jurvetson (DFJ), Portage Venture Partners (PVP) and Cipio Partners. “We are delighted to have the continued support from venture capitalists of this caliber to help us build a world class company,” said Timothy Stultz, president and CEO.

The capital raise comes less than 2 weeks following Imago’s acquisition of Oxford nanoScience (ONS) from UK-based Polaron plc. “The acquisition of ONS strengthened our position as the dominant company in the global market for atom probe microscopes,” said Dr. Stultz. “We now have the largest product line, largest installed base, highest revenues, and a dominant intellectual property position in atom probe technology.”

“With its proprietary position, rapid growth and strong management team, Imago is extremely well positioned to become a large, leading supplier of advanced metrology tools to the microelectronics and materials research industries,” said Warren Packard, board member and managing director of DFJ.

“The strategic acquisition of ONS and increased working capital from this equity funding will help further accelerate the growth of an already dynamic company in an exciting industry,” said Matt McCall, board member and PVP partner. “This is definitely a company to keep an eye on.”

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