DFT Microsystems snares $7 million in VC financing

DFT Microsystems Inc, a McGill Univ spin-off created through the bundling of several microchip testing technologies has received $6.9 million in financing from four venture funds. The investment syndicate is led by Zon Capital Partners, Princeton NJ, and includes BDC Venture Capital, Equitek Capital, Cleveland OH, and MSBI Capital. The latter provided DFT with seed capital of $420,000 last year. The company will have two corporate entities - an R&D arm in Montreal and a sales and marketing operation in Philadelphia. DFT (short for design for test) develops specialized test solutions for radio frequency and mixed-signal systems-on-a-chip. Its intellectual property was developed by a McGill research team led by Dr Gordon Roberts. Roberts will head up the Montreal division. MSBI is one of four early-stage venture capital funds created with the assistance of the Quebec government to commercialize research from Quebec universities....