SAN JOSE, Calif., April 7 /PRNewswire/ -- Applied MicroStructures, Inc. (AMST), the leading provider of tools, technologies and expertise that enable the vapor deposition of molecular-level films for nanotechnology applications, today announced the closure of its Series B financing round with an investment of $8.5 million. California-based Sierra Ventures led the round, with existing investors Compass Technology Partners and Horizon Ventures also participating. The funding will bolster the company's infrastructure, keeping it on course to accelerate product development efforts and support order momentum. Under the terms of the agreement, AMST's board composition will change, with Sierra's venture partner, Ben Yu, rounding out a line-up that includes Doug Tsui of Horizon Ventures and Alain Harrus of Compass Technology Partners, along with AMST's chief executive officer, Jeff Chinn. The new funding comes at a time of significant momentum for AMST. The company's innovative Molecular Vapor Deposition(TM) (MVD) technology is gaining strong traction in the microsystems, life sciences and research areas. Considered by customers as a critical enabler of highly optimized films and surfaces, AMST's MVD delivers compelling ROI advantages in the form of increased yields and reduced costs. Commenting on the funding, Yu credited AMST's solid technology and business execution as key factors in sealing the round. "We see significant potential in multiple nano-related market areas for AMST's unique MVD technology. We are impressed with the accomplishment of the team to date, and we look forward to working with them as they continue to grow the company." Said AMST's Chinn, "This round represents a significant vote of confidence in our company and our core technology. We've made great strides since our founding in 2003, and we're confident that this new investment will help us refine our product line, expand our markets and help us better serve our customers." About Applied MicroStructures Silicon Valley-based Applied MicroStructures is the leading provider of tools, technologies and expertise that enables the deposition of molecular-level films for a broad range of nanotech applications in microsystems, life sciences and research arenas. The company's Molecular Vapor Deposition (MVD(TM)) technology represents a radical new technique that enables the controlled deposition of films. These self-aligned, highly uniform and customizable ultra-thin films can be deposited across a broad spectrum of substrate types and sizes, and are deployed in diverse nano- applications, including microsensors, life-sciences and nano-technology research. For more information about the company, please visit http://www.appliedmst.com NOTE: Molecular Vapor Deposition (MVD) is a trademark of Applied MicroStructures, Inc.
SOURCE Applied MicroStructures, Inc.