Sionex closes series B financing

High technology company focused on commercialising breakthrough chemical sensor chips and systems has announced the completion of a US$12.8 million series B round of funding

Sionex, a high technology company focused on commercialising breakthrough chemical sensor chips and systems based on its proprietary microDMx detection technology, has announced the completion of a US$12.8 million series B round of funding led by Morgenthaler Ventures with additional funding from current investors Rho Ventures and Navigator Technology Ventures.

The capital raised will be used to further develop and manufacture products as well as to expand Sionex's market penetration through establishing partnerships with major companies in homeland security, defence, environmental, diagnostics and industrial sectors.

Sionex recently announced the first of these partnerships with Varian.

Morgenthaler is an established venture capital firm with over $2 billion under management with strengths in semiconductors and components together with expertise in enterprise IT, life sciences and broadband communications companies.

"We are delighted to have the opportunity to invest in Sionex with its truly disruptive technology," said Paul Levine, general partner of Morgenthaler Ventures.

"We believe the company is poised to change the paradigm of chemical and biological detection." Levine will be joining the Sionex board of directors.

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