Innovative Micro Technology Raises $17.0M

Santa Barbara-based Innovative Micro Technology has raised a Series A funding round of $17.0M from BA Venture Partners, Investor Growth Capital, and Miramar Venture Parners. The company manufactures micro-electromechanical systems (MEMs) including products for drug discovery, drug delivery, biomedical implants and cell purifiers, microfluidics, inertial navigation, optical telecommunications, and more. The company said that it would use the funding to acquire new tools for additional capacity, and increase efforts to obtain new corporate accounts and partnerships. More information »