Thursday, July 9, 2009

PlanarMag Gets Series B

West Sacramento-based PlanarMag, a manufacturer of electromagnetic components for the computer, data networking, and telecom industry, disclosed late Wednesday that it had raised a Series B financing for the firm. Amount of the funding was not given, however, a regulatory filing by the firm in June suggests the round raised $4.02M for the firm. The funding came from Tyco Electronics, as well as American River Ventures. The company said the funding will go to expand its operations, engineering, and applications support. In a related move, the firm said it has received a credit facility of undisclosed size from Five Star Bank. More information »