EoPlex Technologies, Inc. Raises $8 Million Series C
February 8, 2007 – EoPlex Technologies, the advanced materials company that manufactures miniature devices that generate, harvest, and manage energy, closed an $8 million Series C round on February 7, 2007. ATA Ventures led the financing with investments from existing investors: Draper Fisher Jurvetson, Labrador Ventures and Draper-Richards.
“This funding allows EoPlex to expand our design and manufacturing capabilities to deliver unique, 3-D components to the multinational corporations who are our customers and to expand our customer base,” said Arthur L. Chait, CEO of EoPlex. “We are extremely pleased to have ATA Ventures lead this round and to have all of our current investors returning. ATA brings not only financial backing but strategic and market capability that will be critical to our success.”
“ATA Ventures has a passion for companies with the power to change the structure of markets,” said Michio Fujimura, Managing Director of ATA Ventures. “We believe that EoPlex is one of those companies. In the two years since their B round, they have made excellent progress. The technology has been scaled from laboratory to commercial size and technical milestones and commercial standards have been achieved. The company is now working on a portfolio of high value projects for multinational customers and the pipeline for new customers is strong. We are looking forward to working with them on this next phase in their development.”
Sean Foote, Managing Director of Labrador Ventures, and the lead on the prior Series B round said “EoPlex makes high tech components for energy and thermal products that are impossible to make efficiently by any other means. They are currently working with major OEMs on components that will enable some really remarkable advances in self-powered sensors and fuel cells. Art Chait and his management team are the doing a terrific job delivering truly unique products for these high growth market segments.”
EoPlex produces components in layers using custom printing equipment and proprietary “inks” that carry ceramic, metallic or polymer materials to millions of locations. This allows the manufacture of components with integrated chambers, channels, sensors, circuits, reactors, energy scavengers, and other features. Many parts are created simultaneously in large panels and the only tooling required is low-cost printing masks. As a result, there is great flexibility to change designs quickly, allowing fast time to market and even modifications during full production runs.
The EoPlex Board of Directors includes: Michio Fujimura, ATA Ventures; Sean Foote, Labrador Ventures; Warren Packard, Draper Fisher Jurvetson; Charles Taylor, EoPlex Founder; and Arthur L. Chait, EoPlex President and CEO. EoPlex Technologies Inc. is located in Redwood City, CA.