Albuquerque electronics company 3D Glass Solutions tacked on an additional $4 million to its "Series B1" fundraising round, the company announced on Monday.
The additional contribution raises the round to a total of $24 million and includes a first-time investment from Menlo Microsystems Inc., a material sciences and electronics company based in California. Corning Inc., a materials technology company in New York, as well as Santa Fe private equity firm Sun Mountain Capital also made further investments, according to 3D Glass Solutions.
3D Glass offers passive devices for electronics — referring to the type of components that provide energy to semiconductors. And by using a special type of ceramic glass, the company's components are meant to retain more energy and be more efficient.
Other existing investors in the Albuquerque firm include Intel and Lockheed Martin, the company said in November when it announced $20 million in Series B1 round. With the money in tow, founder and CEO Mark Popovich previously told Business First that 3D Glass is seeking profitability and sustainability — without the need for additional investment.
The company is targeting the 5G infrastructure and space industries. On that note, the company now has licensing and supply agreements with Corning for technology that "provides entry into adjacent market areas," according to a release from 3D Glass.
3D Glass Solutions is located at 5601 Balloon Fiesta Pkwy. NE. As of December, the company employed upwards of 50 people, Popovich told Business First.
The Series B1 round followed a $12 million Series B round led by Nagase & Co. Ltd., which also participated in the most recent round, according to 3D Glass Solutions.
