Semiconductor manufacturer has raised $4 million in new financing.
says Nitronex raised the money in a debt offering.
Last August, Nitronex landed a Phase II Small Business technology Transfer grant from the federal government for development of chips to be used in ballistic missile defense radar.
The Missile Defense Agency is seeking the microwave integrated circuits.
The amount of the grant, which covers two years, was not disclosed.
Nitronex moved its headquarters and manufacturing to a 69,000-square-foot facility in Durham from Raleigh in 2007. It closed on $7.5 million dollars in financing in January 2008.
Investors in Nitronex include Intersouth partners, which is located in Durham.
In negotiating $100,000 grant from the city of Durham, Nitronex said it would invest $24 million in the Durham facility and create 200 jobs over five years.
Nitronex landed $21.8 million in funding in June 2006. That investment set the stage for the firm’s expansion plans and decision to move to Durham.
Nitronex, founded in 1999, employs technology first developed at North Carolina State University. It has designed semiconductors for use in high-speed broadband and wireless services.
