COLUMBIA, S.C., March 6 /PRNewswire/ -- 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(TM) 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(TM)
utilizes patented Multivariate Optical Computing(TM) 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(TM) 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(TM) for the pharmaceutical
industry. Final tests at the rate of five tablets per second have been
performed using SpectrInline Processware(TM). At such speeds, SpectrInline(TM)
provides for testing of up to 18,000 tablets per hour. On a process line
producing 100,000 tablets per hour, six SpectrInline(TM) systems can provide
100-percent final product quality control.
Ometric Corporation will provide live SpectrInline Processware(TM)
demonstrations at the PITTCON(R) 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(TM) 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
http://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
http://www.sequoiacap.com.
About The Trelys Funds
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
http://www.trelys.com.
SOURCE Ometric Corporation
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Related links:
http://www.ometric.com
http://www.sequoiacap.com http://www.trelys.com
http://www.appcluster05.com/app/homepage.cfm?appname=376&moduleid=803
CONTACT:
Lee Bussell, +1-803-233-2444, or
+1-803-331-6174, or lee.bussell@cnsg.com, for Ometric
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