Microfabrica Adds $22.5 Million

Microfabrica Inc., a Venice, Calif.-based developer of micro-devices for medical, electronic and defense applications, has raised $22.5 million in Series B funding. Versant Ventures and Interwest Partners co-led the round, and was joined by return backers Draper Fisher Jurvetson, DynaFund Ventures, Chevron Technology Ventures and Partech International. The company has now raised around $62 million in total VC funding since its 2000 founding as MemGen.

PRESS RELEASE

Microfabrica, Inc., a leading developer of  micro-devices, has closed $22.5 million in Series B financing co-led by venture capital firms Versant Ventures and Interwest Partners.  Previous investors in the company including Draper Fisher Jurvetson, DynaFund Ventures, Chevron Technology Ventures, and Partech International also participated in the round.

The Series B investment will be primarily targeted at the expansion of Microfabrica's products and capabilities in minimally invasive medical devices.  In addition, the funds will continue to expand production capacity and capabilities in the company's growing electronics and defense businesses. 

Three new members were added to the now six-member Microfabrica Board. The new Board members are: Warren Packard, General Partner of Draper, Fisher & Jurvetson; Michael Sweeney, General Partner of Interwest Partners, and Kevin Wasserstein, Managing Director of Versant Ventures. Additional members of the Board are: Vacit Arat, Microfabrica President and CEO; Adam Cohen, Microfabrica Executive VP and CTO; and Eugene Chen, USGI President & CEO (independent Director).

“Microfabrica is a visionary company, pursuing a fundamental new wave in medical device development