Inpria Corp has closed $1.45 million in funding. The Oregon Angel Fund led the round. Based in Oregon, Inpria is a provider of high-resolution photoresists.
CORVALLIS, Ore., June 19, 2014 – Inpria Corporation, a pioneer in high-resolution photoresists, announced today that it has received additional equity investment and commitments totaling $1.45 million.
This financing was led by the Oregon Angel Fund with a $1 million investment and with additional participation from individual members of the Fund providing the remainder. Earlier this year the company announced $7.3 million in funding and commitments from Samsung Venture Investment Corporation, Applied Ventures, LLC, and Intel Capital.
With this most recent financing, total invested and committed funds to the company now exceed $9.9 million. This infusion of capital will allow the company to accelerate both technology development and hiring plans in the state of Oregon.
“Semiconductors have long been at the heart of the Portland technology and start-up communities, and so it’s very appropriate that our newest investors have such strong ties to Silicon Forest,” shared Andrew Grenville, CEO of Inpria. “Many Oregon Angel Fund investors possess extensive semiconductor industry expertise having held senior positions at companies such as Intel, HP, Mentor Graphics, Triquint, and Tektronix. We immediately recognized the wealth of experience and potential guidance available from Fund members, so we are thrilled to have their support.”
Tom Kingsley, Oregon Angel Fund investor and Inpria board observer said, “The Oregon Angel Fund seeks to invest in young growing companies like Inpria – companies developing important and impactful products using Oregon-based resources and teams. We believe Inpria, an Oregon State University spinout and an ONAMI (Oregon Nanoscience and Microtechnologies Institute) portfolio company, is part of the next wave of semiconductor innovation. Their products have the potential to improve the size, structure and performance of computing devices.”
Inpria is commercializing a portfolio of photo-condensed molecular oxides – chemical materials designed to extend Moore’s Law, the drumbeat that has characterized progress in the semiconductor industry for almost 50 years. With a focus on extreme ultraviolet (EUV) lithography, Inpria’s patented inorganic photoresists provide nanoscale imaging below 20 nanometers to enable continued scaling of electronic devices. The company’s portfolio also includes materials for other emerging semiconductor patterning technologies.
Inpria Corporation is a pioneer in extending semiconductor lithography with inorganic thin-films for nanoscale patterning. Inpria’s patented photo-condensed molecular oxides offer customers the unique ability to deposit – directly from solution – atomically smooth, intrinsically dense, and directly photopatternable metal oxide films, enabling advanced performance with simplified processing.
About the Oregon Angel Fund (OAF)
Founded in 2007, OAF is a community supported, professionally managed, investor driven angel fund backed by the leaders of Oregon’s business, technology, and entrepreneurial communities. The fund’s largest investors include the State of Oregon and the Oregon Community Foundation. OAF invests $6 million annually in the most promising startups and early-stage growth companies in Oregon and SW Washington. Over 1200 jobs have been created by the 34 companies in the portfolio.