News Article

MC10 stretches Series a funding up to $6M
Date: Jul 06, 2010
Author: Rodney H. Brow
Source: bizjournals ( click here to go to the source)

Featured firm in this article: MC10 Inc of Lexington, MA

Startup MC10 Inc., which is developing a form of silicon for circuity that can be stretched, bent and twisted, has bumped up its Series A funding from $5.7 million to $6 million, according to new federal documents. The company closed on the first tranche of the Series A in December of 2009.

Co-founded by John Rogers of the University of Illinois at Urbana-Champaign and George Whitesides of Harvard University, the company lists on its website as investors North Bridge Venture Partners of Waltham, and Osage Partners of Pennsylvania. Carmichael Roberts, general partner at North Bridge, is listed as a director on the new documents filed with the U.S. Securities and Exchange Commission.

In July of 2009, MC10 licensed the stretchable silicon technology from the University of Illinois for an undisclosed amount. Among the potential applications, MC10 cites new stretchable sensor tapes for industrial and health-care applications, such as ultrathin, light weight wearable health monitors; bio-inspired "electronic eye" cameras for ultra-compact, high-performance imaging systems such as extremely thin cell phones and lightweight satellites; and novel medical devices like intelligent disposable diagnostics.

Originally based at North Bridge's offices in Waltham, MC10 now lists its headquarters as Cambridge. In May MC10 shared in a $100,000 grant award from the Bill & Melinda Gates Foundation with Diagnostics For All for developing "disposable paper-based diagnostics devices embedded with optoelectronics."