BOSTON, March 1 -- IntelCore Technologies Inc. announced it has secured $7.5 million of additional financing with Comerica, a leading financial services company, bringing the company’s overall funding to approximately $42 million. IntelCore is a developer and manufacturer of specialty optical fiber for the photonics industry.
The $7.5 million credit facility with Comerica’s Technology and Life Sciences Div. will be used by IntelCore to finance new equipment and other working capital for its new Advanced Development and Manufacturing headquarters currently under construction in Grafton, Mass. The credit facility with Comerica follows two rounds of investment financing received by IntelCore in 2000 and 2001 from Megunticook Management, St. Paul Venture Capital, Technology Venture Partners, Tudor Ventures Group and Beacon Telco. IntelCore said its balanced funding will allow the company to rapidly build and equip its new facility to meet the demand for innovative specialty optical fiber.