Akustica Announces 2nd-Round Financing

PITTSBURGH, Oct. 18 -- Akustica Inc., a provider of acoustic system-on-chip solutions for wireless communications and consumer electronics, announced it has raised $2.25 million in Series A financing. The series was led by Chamberlain Investments, created and funded by Glen Meakem, founder, chairman and CEO of FreeMarkets Inc., and included other private investors.

Former Carnegie Mellon University MEMS laboratory director Kaigham J. Gabriel, called "the architect of the entire MEMS industry" by Forbes ASAP, co-founded Akustica along with James H. Rock, a veteran of technology start-up companies including Zefer Corp., Cambridge Technology Partners and the Carnegie Group. Gabriel is Akustica's chairman and CEO and Rock is president and CEO.

Akustica's patented acoustic MEMS technology originated at Carnegie Mellon University's MEMS Laboratory. That technology and several other related patents were exclusively licensed to Akustica in late 2001.

For more information, visit: www.akustica.com