Beringea leads $5.5 Million Series B investment round in Micro-LAM, Inc.
June 15th 2020
Micro-LAM is an industry leader in precision manufacturing
FARMINGTON HILLS, MI (USA) — Beringea, a global private equity firm providing growth capital to high-potential businesses, led a $5.5 million Series B investment round in Michigan-based Micro-LAM, Inc., which manufactures laser-assisted diamond cutting tool systems for CNC machining. The capital will be used to advance Micro-LAM’S growth efforts.
Modern material science has created ultra-hard materials, but existing manufacturing processes are not suited to cut materials of this strength with the extreme precision required for advanced applications. Micro-LAM has developed a patented laser-assisted diamond cutting tool system that seamlessly bolts on to an existing CNC machining manufacturing infrastructure worldwide. Laser-assisting the diamond cutting tool is the key to the Micro-LAM manufacturing process, as the laser softens and heats the target material at the exact moment that the diamond cutting tool comes in contact with the surface, allowing a level of precision that is unparalleled in the industry.
Micro-LAM was spun-off in 2012 from Western Michigan University’s College of Engineering. The company realized its first system sale in 2016 and in just over three years has placed more than 75 systems in nineteen countries. Micro-LAM’s current market serves rapidly growing end markets such as consumer electronics, mobility, military, defense, healthcare, and data infrastructure.
Michael Gross, managing director at Beringea, said: “Micro-LAM’s CEO Dr. Ravindra and his team have strategically and methodically built the business in a short time by developing a complex yet elegant solution to difficult challenges facing some of the world’s most advanced manufacturing industries. We are excited to work with Micro-LAM and are confident in their growth potential.”
Dr. Deepak Ravindra, Founder and CEO of Micro-LAM, Inc., stated, “Entrepreneurs often learn a lot about the investor during the due diligence process. I must say that it has been a delightful process. Beringea is very well respected in the investment community as well as among their portfolio companies. They have the right mindset and seem to manage a perfect balance by supporting the company’s growth goals without taking away the fun of entrepreneurship and innovation. The team and I are very excited to partner with Beringea to take Micro-LAM to the next level.”
Beringea is a transatlantic venture capital investor that seeks to create lasting success for rapidly scaling entrepreneurial companies across a wide range of sectors, including healthcare, technology, media, consumer goods and business services. With offices in Detroit (U.S.), London and Manchester (UK), we provide patient capital and a global footprint to back founders throughout their journey, helping them overcome barriers to scale and build international success stories.For information on our U.S. investment activities, email firstname.lastname@example.org or visit https://www.beringea.com/us-funds.
In the United States of America, Beringea operates as an SEC-registered investment advisor, Beringea, LLC. This communication is intended solely to provide information regarding Beringea’s potential financing capabilities for prospective portfolio companies and does not constitute an offer of investment management or investment advisory services by Beringea or any of its affiliates.
Micro-LAM, Inc. offers state of the art cutting technologies through a retrofittable system that equips precision machines with a hybrid laser-diamond cutting system. This system is used to efficiently machine materials that are difficult to cut, such as ceramics, silicon, glass and hard metals, thus creating extremely high-quality optics and precision components. Founded in 2012, the company has won numerous innovation awards and expanded its manufacturing facility in 2017. Learn more at www.micro-lam.com