Inprentus has proven it is on track to grow revenue and reach its goals, said Flyover Capital General Partner, Keith Molzer. We are delighted with the progress over the past year and see Inprentus as an example of the opportunities that early stage US mid-west technology companies are creating.
CHAMPAIGN, Ill. (PRWEB) January 24, 2018
The final total of $2.5M for the A round, was led by Kansas-based venture firm, Flyover Capital. This infusion of capital will enable Inprentus to more aggressively pursue new business in both its current synchrotron market as well as respond to requests from new markets. The advanced manufacturing process, which Inprentus has commercialized, is a mechanical nano-scale scribing technology that creates high-precision patterning of surfaces. Inprentus diffraction grating products manufactured with this proprietary process, are used in x-ray and EUV experiments at synchrotron facilities and scientific research institutions. Inprentus diffraction gratings are a core component of synchrotron spectrometry instrumentation, which scientists use to discover and characterize new material properties in life science, engineering and physics research.
“Inprentus has proven it is on track to grow revenue and reach its goals,” said Flyover Capital General Partner, Keith Molzer. “We are delighted with the progress over the past year and see Inprentus as an example of the opportunities that early stage US mid-west technology companies are creating.”
Inprentus is now manufacturing and fulfilling customer orders for its diffraction grating products. With a full compliment of management and technical team members on board, Inprentus will now focus on revenue growth with current product and expansion into adjacent markets through R&D innovation and international business development efforts.
Ron van Os, Inprentus’ CEO commented, “With our manufacturing operation in place and deliveries rolling out the door we will now focus on advancing our capabilities to produce diffraction grating products for markets such as laser systems and higher volume optics instrumentation. We will also move to broaden our focus to include new opportunities in Asia and Europe.”
Headquartered in Leawood, Kansas, Flyover Capital is a seed and early-stage venture capital company. Founded in 2014, Flyover Capital's goal is to create the next generation of technology success stories in the 'flyover' region. Flyover Capital initiates investment to accelerate commercialization and provides a broad national and global network that aims to advance portfolio company positions. Flyover's experienced team applies a unique combination of fund management and operational expertise to identify and develop early stage technology opportunities. The overarching philosophy can be summarized as active participation with driven entrepreneurs in flyover country working to achieve global exits.
Inprentus designs, manufactures and sells X-ray and EUV diffraction gratings for synchrotron radiation facilities that are used for a variety of scientific and commercial applications by many Fortune 500 companies, academic institutions and government laboratories around the world. Inprentus was founded in June 2012 by University of Illinois Urbana-Champaign physics professor Peter Abbamonte to commercialize an innovative, dual-atomic microscope scribing technology, which is a technique for carrying out nano-scale lithography via mechanical deformation of metallic surfaces. This technology is a general purpose approach to high-precision patterning of surfaces, and is particularly suited to x-ray and EUV diffractive optics in which features must be shaped with 0.1 degree angular precision and positioned with nanometer precision over distances of tens of centimeters.