AMEC closes Series D gets $46 mn funding

AMEC closes Series D gets $46 mn funding

AMEC says it shipped its first product, the Primo D-RIE Etch tool, to 5 companies in Asia, and that repeat orders have been received.

Thursday, March 11, 2010

SAN JOSE: Advanced Micro-Fabrication Equipment Incorporated (AMEC), the fab tool specialist based in China, has closed its Series D financing round by obtaining $46 million from its existing investors.

The investors include Walden International, Lightspeed Venture Partners, Shanghai Venture Capital Company Limited, Redpoint Ventures, Goldman Sachs, Bay Partners, Qualcomm Ventures, Global Catalyst Partners, and InterWest Partners.

AMEC, since it was founded in 2004, has raised over $150 million from venture capital sources.

In a statement, Gerald Yin, chairman and CEO of AMEC, said the latest financing will provide “extra bandwidth” to position further the company’s product and also speed up volume production. Notwithstanding the tight capital markets and the generally hard times for startups, AMEC has maintained its aggressive innovation initiatives on track, Gerald Yin added.

AMEC says it shipped its first product, the Primo D-RIE Etch tool, to 5 companies in Asia, and that repeat orders have been received. The company also sells the 300-mm Primo HPCVD system.

Recently, AMEC had said it has settled all litigation between other companies and all disputes have been resolved.

©Reuters