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Article: Cronos Integrated Microsystems Secures $8 Million in First-Round Financing.
- Article from:
- Business Wire
- Article date:
- December 8, 1999
CopyrightCOPYRIGHT 1999 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--Dec. 8, 1999--
Cronos Integrated Microsystems Inc., a leader in the emerging market for micro-electro-mechanical systems (MEMS) technology, announced today it has raised $8 million in its first round of venture capital financing.
The financing was led by SpaceVest II L.P. Other investors are Intel Corporation and Knickerbocker LLC.
Cronos, which designs and fabricates MEMS components, will use the funding to help further its growth and expansion in markets in which MEMS devices are gaining rapid acceptance - primarily in telecommunications and microinstrumentation.
"The growth we're seeing ...