NEWS + EVENTS
Mar. 6, 2006
Sequoia Capital and The Trelys Funds co-lead additional round of
funding for spectroscopy innovator Ometric Corporation
COLUMBIA, S.C. (Mar. 6, 2006) – Spectroscopy innovator Ometric Corporation today announced the closing on an additional round of funding that would enable the company to expand the availability of its innovative SpectrInline Processware™ technology to a wide variety of industries.
The investment group is co-led by Sequoia Capital of Menlo Park, Calif. and The Trelys Funds of Columbia, S.C., with follow-on funding from AFT Ventures of Columbia, S.C.
Ometric Corporation provides innovative solutions to embed analytical technology into industrial processes. Ometric’s SpectrInline Processware™ utilizes patented Multivariate Optical Computing™ to perform spectroscopy at the speed of light, thus providing real-time, in-line process control and final product testing to a variety of industries, including pharmaceuticals, chemicals, agriculture, food and beverage, environmental, plastics, oil and gas, and homeland security.
Ometric Chairman and CEO Walter Alessandrini cited the positive response that this new technology has been receiving from industry. “We are not aware of any existing product or technology that compares with the results that our SpectrInline Processware™ is producing,” noted Alessandrini. “We are extremely pleased to have earned the confidence of financial backers like Sequoia and Trelys. Their additional funding will allow us to expand our resources so that we can better meet the growing demand to provide these innovative solutions."
Ometric recently announced breakthrough testing results for tablet formulation using SpectrInline Processware™ for the pharmaceutical industry. Final tests at the rate of five tablets per second have been performed using SpectrInline Processware™. At such speeds, SpectrInline™ provides for testing of up to 18,000 tablets per hour. On a process line producing 100,000 tablets per hour, six SpectrInline™ systems can provide 100-percent final product quality control.
Ometric Corporation will provide live SpectrInline Processware™ demonstrations at the PITTCON® 2006 conference in Orlando, Fla. March 13 – 16. Ometric will be located at the Orange County Convention Center in Hall D, Booth #5657.
About Ometric Corporation
Ometric Corporation provides innovative solutions to embed
analytical technology into industrial processes. Ometric’s
SpectrInline Processware utilizes patented Multivariate Optical
Computing™ to perform spectroscopy at the speed of light, thus
providing real-time, in-line process control and final product
testing to a variety of industries, including pharmaceuticals,
chemicals, agriculture, food and beverage, environmental,
plastics, oil and gas, and homeland security. For more
information about the company, visit
www.ometric.com.
About Sequoia Capital
Since 1972, Sequoia Capital has provided startup venture capital for very smart people who want to
turn ideas into companies. As the "Entrepreneurs Behind the Entrepreneurs", Sequoia Capital's
Partners have worked with innovators such as Cisco Systems, Yahoo!, Redback Networks, Google,
Network Appliance, PayPal (eBay), Cypress Semiconductor, Vitesse Semiconductor, Apple
Computer and Oracle. To learn more about Sequoia Capital, visit
www.sequoiacap.com.
A team of business builders, The Trelys Funds works with leading scientists, engineers, and entrepreneurs to turn industry-changing technologies into high value companies. Investors in Trelys include BlueCross BlueShield of South Carolina, BB&T Corporation, Carolina First Bank, First Citizens Bank, the Clemson University Foundation, and the Medical University of South Carolina Foundation. Trelys portfolio companies include Aldagen, Biolex Therapeutics, Champion Communications, iOnosphere, Metabolon, Ometric, SpineMedica, TriVirix, and Unitrends. Trelys is South Carolina’s largest and most active venture capital firm. To learn more about Trelys, visit www.trelys.com.
For more information, contact
Lee Bussell, Ometric
(803) 254-8158
lee.bussell@cnsg.com
© 2007 Ometric Corporation. All rights reserved. Reproduction without written permission is prohibited. Features and specifications are subject to change without notice. Actual data will vary according to the specific product and the specific application.
