Boston Business Journal - CyPhy Works whips up $1.2M in new funding

The company, previously located in Framingham, but now listed as based in Danvers in the filing with the U.S. Securities and Exchange Commission, raised its first round of institutional funding in February of 2010, bringing in $1.8 million. General Catalyst Partners of Cambridge counts CyPhy Works as a portfolio company, and managing director and co-founder of General Catalyst John Simon holds that firm’s position on CyPhy Works’ board. The remainder of the four investors in the round were not named in the SEC filing. Prior to taking its first round of VC money, CyPhy Works was backed mostly by federal grants, including a $2.4 million research award from the U.S. Commerce Department’s National Institute of Standards and Technology. On the General Catalyst website, CyPhy Works is listed as developing its technology for both commercial and defense clients.

Read the article: Boston Business Journal