FLX Micro nabs new funding

Nov. 3, 2003 — FLX Micro has closed on an additional, but undisclosed, amount of venture financing.

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Andrea Leppart, FLX’s vice president of business development, said the Solon, Ohio-based developer of MEMS sensors is not disclosing the amount because it doesn’t like to make balance sheets public. Participating investors include Reservoir Venture Partners, Waypoint Venture Partners, The Entrepreneurs Fund and prior investor Ohio Innovation Fund.

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The company said in a written statement that the funds would be used to expand commercialization of silicon carbide micromachining developed at Case Western Reserve University by adding a MEMS fabrication facility. The company also plans to add product engineers.

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