SOURCE: Ahura Scientific, Inc.

March 09, 2007 08:00 ET

Ahura Scientific Secures $7 Million Venture Capital Investment

Funds to Be Used to Accelerate Penetration of New Markets

WILMINGTON, MA -- (MARKET WIRE) -- March 9, 2007 -- Ahura Scientific, Inc., a leader in rugged, handheld optical systems for chemical identification, today announced it has expanded its equity funding with an additional $7 million infusion of investment capital, bringing the total funds invested to date to $29.5 million. This investment is a result of the company's strong growth and aggressive product development pipeline and will be used to support the company's expansion into the pharmaceutical and medical markets.

"Ahura Scientific continues to perform well," said Nina Saberi, founder and partner at Castile Ventures. "With such strong opportunity, innovative products and extraordinary technical ability, the investors provided additional resources to support the company's expansion and to speed entry into new markets. Because of Ahura Scientific's prospects, we've set aside an additional pool of capital to address emerging market opportunities as well," Saberi continued.

The funding demonstrates continued support for the company's strategic vision with all of the previous investors participating in the round. Investors include ARCH Venture Partners, Castile Ventures, ComVentures, and the GF Private Equity Group, LLC.

With product revenues doubling each of the past two years, Ahura Scientific has firmly established itself in the first responder and military markets with its flagship product, FirstDefender. Momentum is building rapidly for TruScan, the company's newest handheld spectrometer for pharmaceutical and industrial applications. Launched last month, TruScan was designed to provide instantaneous authentication of raw materials and finished goods.

"We're pleased to close this financing and secure the funds needed to fuel our continued growth and market expansion," said Doug Kahn, chairman and CEO of Ahura Scientific, Inc. "Exciting new markets for handheld chemical identification systems continue to emerge. Ahura Scientific is at the forefront of the technology and is well-positioned to meet this demand with an expanding range of new products. This financing enables us to address these emerging market opportunities quickly and to broaden our leadership position."

About Ahura Scientific, Inc.

Ahura Scientific, Inc. develops rugged, ultra-compact, field-enabled optical systems for the immediate identification and authentication of liquid and solid chemical substances. Customers include the homeland security, life sciences, industrial and medical markets. Manufactured in the USA in an ISO 9001-certified facility, the company's products offer exceptional portability and unparalleled performance. More information at

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