Monday, January 12, 2009

FMP Products taps $200K more from Conn. Innovations

By Galen Moore

The quasi-public venture capital firm Connecticut Innovations said it has re-invested $200,000 as part of a larger investment round in FMP Products Inc., a Greenwich-based maker of automation software and hardware for the laboratory.

Other investors in the $700,000 round include Cambridge-based LaunchCapital LLC and unnamed angel investors.

The funds followed a $300,000 investment announced in November, bringing Connecticut Innovations’ total participation in the round to $500,000.

FMP’s harvesting and 3-D video imaging products are designed for use by researchers to analyze and document samples and specimens.

Connecticut Innovations is a quasi-public venture capital investment organization with a mandate to promote Connecticut’s innovation economy. The organization invested in 19 companies in 2008, according to an annual report released in October. Connecticut Innovations now has $11.5 million invested.

LaunchCapital’s New England portfolio also includes Daily Grommet, Execue Inc. and Promethegen.