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
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
Sequoia Capital provides venture capital funding to founders of startups who want to turn business ideas into companies. As the "Entrepreneurs Behind the Entrepreneurs", Sequoia Capital's Partners have worked with innovators such as Steve Jobs of Apple Computer, Larry Ellison of Oracle, Bob Swanson of Linear Technology, Sandy Lerner and Len Bozack of Cisco Systems, Dan Warmenhoven of Network Appliance, Jerry Yang and David Filo of Yahoo!, Jen-Hsun Huang of nVIDIA, Michael Marks of Flextronics, Larry Page and Sergey Brin of Google, Chad Hurley and Steve Chen of YouTube and Dominic Orr and Keerti Melkote of Aruba Wireless Networks. To learn more about Sequoia Capital visit www.sequoiacap.com.
Contact:
Michael L. Goguen
SEQUOIA CAPITAL
goguen@sequoiacap.com
