MORRISVILLE,Ziptronix, a semiconductor developer and manufacturer, has closed on $7.2 million in new capital.
Existing investors in Ziptronix participated in the C round. They include Intersouth, Research Technology Ventures, Alliance Technology Ventures, Grotech Capital, RTI international and NC IDEA (formerly known as MCNC).
Ziptronix has now raised some $30 million in venture capital.
“This investment is a great endorsement by our investors of our solid performance and continued progress,” said Phil Nyborg, who joined Ziptronix as its president and chief executive officer earlier this year. “This funding will allow Ziptronix to continue its growth and expansion as we move toward profitability.”
The funds will be used for expanded sales and marketing efforts as well as partnership development, the company said.
Ziptronix is focused on what it calls three-dimensional, or 3D IC, chip technology that permits vertical integration of silicon chips. These chips are “faster, smaller and less expensive” that other chip technology, according to Ziptronix.
“Ziptronix continues to be an exciting investment opportunity,” said Mitch Mumma of Intersouth in a statement. “The company continues to make progress in advancing its technology and the management team is highly focused on getting to the next level of customer traction and revenue generation.”
Ziptronix is a spin-out from RTI. It was launched in 2000. Its last financing — some $17 million — was raised in May of 2003.
Nyborg joined Ziptronix after working at two other semiconductor firms.