Innovative Micro Technology (IMT) announced this week a majority equity financing led by Cerium Technology, an investment firm focused on innovation in the IoT market. IMT is a well-established player in the design and manufacture of MEMS devices. MEMS technology leverages the precision and scale of semiconductor wafer manufacturing to make micro and nano scale structures on silicon or glass that significantly improve the performance of devices that perform physical functions. IMT is one of the leading independent MEMS manufacturers in North America, partnering with innovative system vendors and fabless device firms worldwide to create and sustain competitive advantage. Proceeds from the financing will be used to increase R&D investments in the company's standard process platforms, upgrade existing equipment, and to complete the installation of IMT's new 8-inch wafer fabrication line.
