Digg icon reddit icon Stumbleupon icon
Print Email     Print Edition Stories

Tuesday, June 23, 2009

Innov-X finds $4.5M in new funding

By Rodney H. Brown

Innov-X Systems Inc., a Woburn-based maker of handheld chemical and elemental analyzers, has landed a $4.5 million investment led by Boston-based Massachusetts Capital Resource Co. with participation from previous investor Rand Capital (Nasdaq: RAND) of Buffalo, N.Y.

Founded in 2001, Innov-X serves the industrial, transportation, security, environmental, recycling and energy markets, with a portable X-ray fluorescence (XRF) device that can determine the presence of elements such as lead or mercury. The 3-pound devices have been used in a range of applications, including forensics analysis of the Discovery Shuttle for NASA and environmental compliance for the electronics industry.

The privately held company, which was founded in 2001, has offices in North America, Europe, Australia and Asia. In January of 2007, Innov-X received $27 million in venture funding from Boston-based Summit Partners Inc.

Massachusetts Capital Resource Co. is a private investment firm that was established in 1977 and is funded by Massachusetts-based life insurance companies. The companies provide mezzanine capital and long term debt to small and midsize businesses which have operations in Massachusetts.

 

Digg icon reddit icon Stumbleupon icon
Contact Editor Latest News

Comments

Please Login/Register to post comments.

No comments have been added or approved.

On the MHT blog now

Vivek Wadhwa slaps you in the face, Boston/Rte 128 tech community

Harvard/Duke/UC Berkeley researcher Vivek Wadhwa -- he's dangerously close to surrounding the entire country with his teaching posts -- has told the Boston/Route 128 community what he thinks of its old, cranky behind. Wadhwa, who caused a stink awhile back when he dared to look askance at some NVCA numbers, says Silicon Valley took a commanding lead in the '90s with its job-hopping, information...

Read More

GreenFlash
Most Popular Stories
EmailedViewed
Stay Informed
Check which newsletter you'd like to receive.
TechFlash (Daily)
FinanceFlash (Daily)
BioFlash (Daily)
GreenFlash (Weekly)
Startup Report (Weekly)
Breaking news, MHT events, local announcements
RSS feeds
Your email:

Affiliate publications: ACBJ.com, Boston Business Journal, Bizjournals.com, Portfolio.com, Wired.com

Web Site Developed by Neptune Web, Inc.

Use of, registration on, this site constitutes acceptance of our User Agreement. Please read our Privacy Policy (updated) A publishing partner with Portfolio