Axsun Closes Round

BILLERICA, Mass. -- Axsun Technologies, Inc., a leading manufacturer of MEMS-based micro-optoelectronic “spectral engines,” announced today the closure of a $ 15 M financing round. Electro Scientific Industries, Inc. (ESI; Nasdaq: ESIO), a leading supplier of innovative production laser systems for microengineering applications, led the Series D equity round, which was joined by current investors Prism Venture Partners, Vantage Point Venture Partners and Stata Venture Partners along with other private investors. In addition to the equity financing, Axsun closed an asset backed loan agreement with Bridge Bank. Axsun will use the proceeds to enhance its core “spectral engine” offerings in industrial process spectroscopy, including the PAT Pharmaceutical, homeland security and optical communications markets.

Axsun, Inc., has invited Steve Harris, vice president of R&D at ESI, to join its board of directors. Mr. Harris joins Ray Stata, Axsun CEO Dale Flanders, Bill Seifert from Prism Ventures and David Fries from Vantage Point Venture Partners on the board.

Axsun Technologies Inc.