March 29, 2001
Arryx, Inc. Secures $750,000 From Draper Fisher Jurvetson - Additional Funding From Leading Venture Capital Firm Fuels Arryx' Introduction of HOT Technology
Arryx, Inc., developers of commercial applications for Holographic Optical Trapping (HOT) technology, have received $750,000 in additional funding from Draper Fisher Jurvetson (DFJ), a leading venture capital firm headquartered in Redwood City, California. Arryx announced $2.2 million in initial funding earlier this year. Arryx is developing and marketing HOT technology, a new method of computer-controlled optical trapping.
We invested in Arryx because HOT technology has the potential to define a new category, said Steve Jurvetson, a managing director of Draper Fisher Jurvetson. Arryx's technology could revolutionize the field of miniature matter manipulation and benefit the photonics and telecommunications industries.
Arryx's HOT technology is an order of magnitude above and beyond what is currently available in the field of optical trapping. HOT technology will be marketed for use in products dependent on material control and assembly in the microscopic realm, such as microphotonic equipment and biochips.
HOT technology allows multiple processes to be conducted, evaluated and quality controlled simultaneously on a large number of particles and subassemblies, under computer direction. It promises to become a lynchpin component in the evolution of micro-manufacturing.
Many industries rely increasingly on micro-manufacturing; it's an excellent market space for expansion, said Lewis Gruber, co-founder and CEO of Arryx, Inc. HOT technology allows for new and innovative advances in microelectronic devices, biotechnology and optical communication equipment, he adds.
HOT technology can be used as a stand-alone tool or as a component in end-use products. Arryx, Inc. expects to begin commercializing the technology in June 2001.
About Arryx, Inc.
Arryx, Inc., a Chicago company, develops products and processes in the microscopic realm, focusing on microphotonics and biochips. Further information is available at www.arryx.com
About Draper Fisher Jurvetson
Draper Fisher Jurvetson, is a leading early stage information technology venture capital firm. Headquartered in Redwood City, California, Draper Fisher Jurvetson manages over $2 billion in committed capital and has developed a large network of highly successful portfolio companies. Draper Fisher Jurvetson pursues a people/market/technology approach to venture capital investing, funding entrepreneurs with the energy, vision, experience and desire to build great companies. For more information about Draper Fisher Jurvetson see www.dfj.com.
