POET achieves milestone, raises additional $4 million

Toronto-based POET Technologies Inc has achieved a "3rd party foundry" milestone for its integrated circuit device fabrication technology and raised an additional $4 million from institutional and accredited investors. The new flow process will allow the firm to generate more complex prototypes and test structures as it makes its transition from "fab-to-lab". POET will now work towards achieving another two milestones with a healthy cash position of $17 million resulting in successful financing without dilution to the company's stock. It designs semiconductor devices for military, industrial and commercial applications including infrared sensor arrays and ultra-low-power random access memory….