Press Release Library
Ahura Corporation Raises $10M B-Round to Accelerate Homeland Security Product Offerings
Wilmington, MA. - January 19, 2005 - Ahura Corporation, a manufacturer of portable optical instrumentation and subsystems for homeland security and life science applications, today announced that they have closed on $10M in an up round, bringing the total investment to more than $22M. The company was founded in May of 2002 by a team of innovators who had previously co-founded CoreTek which was acquired by Nortel. The new investment includes all of the A-round investors; ARCH Venture Partners, Castile Ventures and ComVentures. Leading the series B round is the South Ute Indian Tribe Growth Fund of Durango, CO.
Ahura Corporation is developing portable optical solutions based on their patented “Optical Engine” technology. The company is generating multi-million dollar revenue from OEM and government sales. The additional investment will accelerate the development and product introduction. The start-up occupies a 30,000 square foot development and manufacturing facility in Wilmington, MA.
General Ronald R. Fogleman, the retired Air Force Chief of Staff and advisor to the SUIT Growth Fund, stated “The security and safety market is expanding rapidly. Ahura is pushing the technological envelop on product performance while moving quickly to transition their designs into production. This team is on track to introduce a series of products that address the needs of military and civilian first responders.”
Dr. Daryoosh Vakhshoori, CEO, announced the investment saying “We welcome the SUIT Growth Fund as a new investor and are excited to have the strong support of our existing investors. This funding will accelerate the mass production of next-generation equipment and expand our sales channels to governments and industry. It represents a vote of confidence in Ahura’s technology and management team and puts Ahura on the fast-track to deliver instruments into the hands of the first responder who put their lives on the line for society every day.“
In recent months, Ahura has built up the staff in the sales departments as well as ramped up investment in manufacturing. This funding will accelerate customer penetration and spur the growth of the company.
About Ahura Scientific, Inc.
Ahura Scientific, Inc. develops rugged, ultra-compact, field-enabled optical systems for the immediate identification and authentication of liquid and solid chemical substances. Customers include the homeland security, life sciences, industrial and medical markets. Manufactured in the USA in an ISO 9001-certified facility, the company’s products offer exceptional portability and unparalleled performance.
More information at www.ahurascientific.com.
Kerstin Barr, Ahura Scientific, Inc.