ITHACA — MicroGen Systems, Inc. of Ithaca has wrapped up a series A funding round that raised $2.6 million.
The company is commercializing a chip-sized power generator that can transform subtle vibrations into energy. The product will be used initially in commercial and industrial monitoring.
The funding round was led by XTRION N.V. of Belgium, which has investments in semiconductor firms and companies specializing in tiny electrical and mechanical systems. XTRION Managing Director Rudi De Winter has joined MicroGen’s board of directors.
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“MicroGen is now poised to move into production of our … devices on a major scale for initial applications in the industrial and commercial markets,” MicroGen co-founder and CEO Robert Andosca said in a news release. “The relationship with a strong semiconductor investment house enables us to reach markets more readily, and to have resources that will enable a faster ramp for MicroGen.”
MicroGen won the $200,000 grand prize in the Creative Core Emerging Business Competition earlier this year.
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