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Pixelligent raises $2 Million in equity financing

By SiliconIndia  |   Monday, 01 June 2009, 04:26 Hrs
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Bangalore: Pixelligent Technologies has closed $2 million in new equity financing round led by local angel investors, a renowned coast-based tech entrepreneur and the company's management team. The proceeds raised were predominantly for the company's reorganization and for funding current development initiatives and the government programs.

Pixelligent is coming up with innovative applications in optical lithography and nanocomposites for the semiconductor and the micro-electronics markets.

Craig Bandes, CEO of Pixelligent Technologies said, "To raise capital for a development stage company in the current economic environment is a true testament to the tremendous potential and importance of our technology." Pixelligent has always been an emerging leader in developing applications for nanotechnology.

"This funding, in combination with the support we have received from federal grant programs, has enabled us to support our world class nanotechnology team and move our technology closer to the market ," said Greg Cooper, President of Pixelligent.

With an aim of bringing in more developments, Pixelligent, an award winning development stage nanotechnology company, plans to expand the nanotechnology into other related fields.

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