Their dedication certainly paid off as they launched their first commercialized product, Xiphos™ Posterior Spinal Fusion System, last October, creating a steady revenue stream that allowed their "A round" financing to convert to equity. Additionally, DiFUSION recently secured another $5 million in private investments for "B round" support – all from private investors who notably benefitted from Bush Administration capital gains exclusions. The total $9.2 million, raised since DiFUSION's inception in 2008, is not comprised of any venture capital or bank funding and has assisted in the creation of ten high paying tech jobs so far (including four PhD and two Masters level), all the while pumping millions into the local Georgetown and Greater Austin economies.
"We are very excited as to DiFUSION's potential to revolutionize the industry with the technology that we are developing," comments Nad Verjee, who represents the "B-round" investors. "The structure and incentives that the TLCC has put in place enables technology companies to cultivate and develop during the critical start-up phase. This is very important to ensure the survivability of start-up companies like DiFUSION. We owe our gratitude to the TLCC and in particular to Mr. Russ Peterman and Mark Thomas for enabling DiFUSION to make it through this critical phase."
Along with the success of their Xiphos™ launch and the expansion of their finances, DiFUSION has received a capital equipment grant to help facilitate their rapid expansion. The City of Georgetown in conjunction with the Georgetown Economic Development Corporation has granted those funds for the purchase of an ICP Plasma Spectrometer – a necessity for DiFUSION to proceed with testing. DiFUSION is also hosting a ribbon cutting ceremony for their new state of the art 3,000 square foot web lab facility on Sept
|SOURCE DiFUSION Technologies, Inc.|
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