COLUMBIA, Md.—Paratek Microwave Inc. announced it has garnered $17 million in new financing to be used to enhance the commercialization of the company’s product portfolio.
Mogenthaler Ventures and Novak Biddle Venture Partners led the investor group, with AB and DB Capital Venture Partners and several undisclosed investors also participating. Paratek said the funding brings its total capitalization to $53 million.
“Paratek’s ability to raise $17 million in new funds in today’s tenuous economic climate validates our technology, products and our ability to seize the marketplace opportunity,” said Ali Pourtaheri, president and chief executive officer of Paratek.
