*Q&A: Integra Devices Talks About Its $6 Million Series A Raise
This Q&A is with Sourabh Dhillon, the director of business development at Integra Devices, which raised $6 million in a Secured Series-A round last Fall, but just announced the raise publicly.
The startup, with HQ in Irvine, manufactures micro-devices. Its markets include telecom, aerospace, manufacturing, and medicine.
3D microsystems, (often called microelectromechanical systems or MEMS), are tiny mechanical devices, with features smaller than a human hair, which can interact with the world around them.
The most common devices are used as sensors, for monitoring acceleration, rotation, sound and vibration.
Integra’s flagship product is a miniaturized microwave micro-relay that can hot-switch power.
The company intends to use the Series A financing for expanding its team and infrastructure, as well as moving its products into pilot production.
The recent investment was led by the VC firm, Kairos Ventures, in LA.
Dhillon said that before the Series A raise, the company was entirely funded by development contracts (see below). He declined to disclose by how much.
Integra Devices incubated at EvoNexus in Irvine and also received support from UCI Applied Innovation, UCI’s innovation platform.
OCSN: Who are the founders, besides yourself?
Dhillon: Paul Dhillon, CEO; Mark Bachman, CTO; and James Spoto (a founder, not operationally involved).
OCSN: Where does your company fit in your industry?
Dhillon: Current MEMs have only miniaturized less than 10% of industrial components, such as sensors, actuators, relays and microfluidics.
There is a large opportunity to further the miniaturization of products, enabling a suite of new products and empowering emerging marketplaces.
OCSN: How does it benefit your startup to be located here in OC?
Dhillon: OC is a hub for innovation, with premier life science and industrial tech companies sponsoring research and development work.
OCSN: What kind of funding have you previously received?
Dhillon: Integra has been completely customer-funded by Tier-1 companies up to this Series A raise.
(Founded in 2015, it’s been funded with “major” development contracts from industry players such as Lockheed Martin, Teledyne, and Tier 1 lifescience companies, according to a press release on its website.)